Fed's preferred measure of inflation dips to 3.4 percent in August
The Federal Reserve's preferred inflation gauge, the PCE price index, rose 3.4 percent year-over-year in August. Central bank officials indicated that further interest rate hikes remain possible.
The Federal Reserve’s preferred measure of inflation dipped in August, as multiple central bank officials have said future interest rate hikes could be on the horizon. The personal consumption expenditures (PCE) price index rose 0.3 percent from July to August and was up 3.4 percent year over year, according to data released Wednesday by the...
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