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Fed’s Preferred Inflation Gauge Remains Above Target Range
An inflation measure closely watched by the Federal Reserve was unchanged last month in the latest sign that many Americans are still struggling with higher costs
Inflation has worsened since the Iran war began in late February, when it stood at 2.9 percent.
US inflation unchanged as Fed expected to keep interest rates steady
The personal consumption expenditures price index, the measure the Fed relies on most heavily for its policy forecasting, rose a seasonally adjusted 0.2% for the month, putting the annual headline inflation rate at 3.7%.
