Business & Economy
Fed’s preferred gauge showed core inflation at 3.0% in August, much lighter than expected
Consumer prices posted a smaller than expected increase from a year ago, according to the Federal Reserve's primary inflation gauge, the Commerce Department reported Wednesday.
AI Summary
The Federal Reserve’s preferred inflation gauge, the personal consumption expenditures price index, rose 0.3% in August, a seasonally adjusted increase. This monthly gain translates to a 12‑month rise of 3.4%. The Commerce Department released the data on Wednesday. Economists surveyed by Dow Jones had expected a 0.3% monthly increase and a 3.7% annual gain. The report shows core inflation in August was lighter than many analysts had anticipated.
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