Consumer spending stalled
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Key Takeaways Core PCE inflation, the Fed's preferred gauge of consumer price increases, likely rose 2.9% in September, heading in the wrong direction from the Fed's goal of a 2% annual rate.Although Fed officials are worried about simmering inflation,
Consumer prices increased moderately in September. The Personal Consumption Expenditures price index, which is the Federal Reserve’s preferred inflation gauge, showed a 0.3 percent monthly increase in prices.
The headline CPI figure rose to 2.9% year-over-year, up from 2.7% in July and in line with expectations. This is the highest level since January and marks the fourth consecutive month inflation has accelerated. On a monthly basis, prices rose 0.4%, up from ...