The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation metric, picked up in August, after cooling off in July.
Core PCE, which strips out the impacts of food and energy, rose 0.6% in August, bringing the annual figure to 4.9%, according to the Department of Commerce. Economists surveyed by FactSet were expecting a 0.5% monthly rise and 4.7% yearly increase.
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