U.S. core PCE rises 2.9% in August, in line with estimates
Underlying U.S. inflation in August matched the prior month’s pace as anticipated, in a sign of sticky price pressures that Federal Reserve officials have flagged as a key influence on the trajectory for interest rates over the rest of the year.
The so-called "core" personal consumption expenditures price index, which strips out volatile items like food and fuel, rose by 2.9% in the twelve months through August, the same as in July and in line with economists’ estimates, according to data from the Commerce Department’s Bureau of Economic Analysis on Friday.
Month-on-month, the measure came in at 0.2%, also equalling both July’s figure and Wall Street projections.
On a headline basis, PCE stood at 2.7% year-over-year and 0.3% month-over-month. The gauges accelerated slightly from July and were the same as forecasts had predicted.
Source: Investing.com
