A key inflation measure rose at fastest pace in 30 years in July
CNN
The Federal Reserve's favorite measure of inflation rose to its highest level since 1991 in July, the Bureau of Economic Analysis said Friday.
The price index for American consumer spending, also known as the PCE index, rose at a rate of 4.2% in the year ended July, the fastest pace since January 1991. Stripping out food and energy items, the prices of which tend to be more volatile, the inflation index stood at 3.6%, flat from the month before and remaining at its highest level since March 1991.
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