Fed’s preferred inflation gauge remains above target, consumer spending growth stays strong

ChainCatcher news, according to Golden Ten Data, data released in the United States on Friday showed that the Federal Reserve's preferred inflation indicator remained above target last month. In August, consumer prices rose by 0.3% month-on-month, pushing PCE inflation over the past year to 2.7%, higher than July's 2.6%, with the core indicator remaining at 2.9%. Meanwhile, consumer spending remained strong in August, growing by 0.6%, higher than July's 0.5%. These data present challenges for the Federal Reserve's decision-making.