Anyone looking for inflation relief in the Federal Reserve’s preferred measure didn’t find it on Friday, and that likely means more financial trouble as the Fed tightens further.
The personal consumption spending price index, which the Fed uses to assess 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 stubborn. Goods prices fell in the month, but services prices rose by 0.6%.
https://www.wsj.com/articles/the-bad-inflation-news-continue-federal-reserve-personal-consumption-expenditure-price-index-11664576780 The Bad Inflation News Continues