US Core PCE Rises 0.2%, Consumer Spending Soars in August
The Federal Reserve's preferred inflation gauge, the PCE price index, rose 0.2% in August excluding food and energy. Meanwhile, consumer spending saw its fastest growth in over a year.
The personal consumption expenditures price index, the Federal Reserve’s preferred measure of inflation, increased 0.3% from a month earlier. Excluding food and energy, the PCE price index rose 0.2%. US consumer spending rose in August at the fastest pace in over a year, helping to power the economy through persistent inflation. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)
READ NEXT
More on the wire
AI TLDR
Thousands of physicians are urging the U.S. Senate to reject Heidi Overton, President Trump’s nominee to lead the Food and Drug Administration.
AI TLDR
New York City Mayor Zohran Mamdani has received federal security clearance, allowing him to review classified documents nine months into his term.
AI TLDR
Abnormally high ocean temperatures caused by El Niño have driven orcas from their native waters near Mexico and Central America to the coast of Orange County.