Anyone looking for inflation relief in the Federal Reserve’s preferred measure didn’t find it on Friday, and that probably means more financial trouble ahead as the Fed tightens further.
The personal-consumption expenditure price index, which the Fed uses when it assesses price pressures in the economy, rose 6.2% in August from a year earlier. That’s down from 6.4% in July, and 7% in June, but it still signals that inflation has become widespread and sticky. Prices for goods fell in the month but service prices rose a sharp 0.6%.
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