Inflation measure closely watched by the Fed rises 2.5% in JulyAugust 30, 2024 at 08:33 AM EDT
The Labor Department released an inflation gauge that is closely monitored by the Federal Reserve, providing a look at price pressures within the economy.
The personal consumption expenditures index showed that prices rose 0.2% from the previous month, according to the Commerce Department. On an annual basis, prices climbed 2.5%. Those figures are mostly in line with expectations. This is a developing story. Please check back for updates. 
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