The figure was in line with market expectations, according to a compilation of forecasts made by Bloomberg.
The PCE inflation is seen by the US central bank Federal Reserve (Fed) as the most important price measure when decisions on future interest rates are to be made.
In contrast to the more common CPI measure of inflation, which is based on a basket of goods, the PCE inflation is calculated on what is actually consumed.
The underlying inflation in the US – excluding food and energy prices – rose according to the PCE measure to 2.8 percent in October. Analysts had expected 2.8 percent, which can be compared to 2.7 percent in September.
The next interest rate decision from the US central bank Federal Reserve (Fed) is expected on December 18.
Corrected: In an earlier version, incorrect figures were stated.
