Key inflation measure rises as incomes decelerated in July ...Middle East

Prices bucked up in July in a key inflation gauge watched by the Federal Reserve as the central bank weighs the possibility of more interest rate hikes. The personal consumption expenditures (PCE) price index rose 0.2 percent in July, the Commerce Department reported Thursday. It moved up to 3.3 percent ahead of where it was a year ago, up from 3 percent in June. Annual “core” PCE, which excludes the more volatile categories of food and energy prices, moved up to 4.2 percent in July from 4.1 percent in June. The upward move in the PCE index comes after another important price measurement, the Consumer Price Index (CPI), rose for the first time this year in July. Prices had been s

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