Report
US PCE inflation rose less than expected in August as consumer spending jumped 0.9%
Reuters reports in The Economic Times that the PCE price index rose 0.3% in August, below the 0.4% forecast from economists it polled.
TLDR
Reuters reports in The Economic Times that the US PCE price index rose 0.3% in August, while consumer spending jumped 0.9%. Annual PCE inflation was 2.6%, and core PCE inflation, which excludes food and energy, was 3.0%. The softer inflation reading could lead markets to further lower the odds of another Federal Reserve rate hike.
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