Inflation ticks up more than expected in Fed’s preferred gauge
Inflation in the Federal Reserve's preferred measurement ticked up to a 2.6-percent annual increase in June from 2.3 percent as cost increases from President Trump’s tariffs make their way into the economy.
The increase in the Commerce Department’s personal consumption expenditures (PCE) price index exceeded economists’ expectations of a 2.5 percent increase.
Taking out the more volatile categories of food and energy, the index........
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