The latest reading of the Federal Reserve's preferred inflation gauge showed price increases were flat in October from the prior month, raising questions over whether progress in getting to the central bank's 2% goal has stalled.

The Core PCE Price Index increased 0.3% M/M in October, matching the +0.3% consensus and +0.3% in September, the U.S. Bureau of Economic Analysis said Wednesday.. +2.8% Y/Y vs. +2.8% consensus and +2.

The Commerce Department released data showing that PCE inflation ticked higher in October, though the Federal Reserve's preferred inflation gauge remained near last month's level.