Inflation Trends Keep Fed Rate Hikes on Pause
Inflation's steady decline this summer notched less progress last month, government data showed.
Still, inflation has improved enough recently for the Federal Reserve to extend a pause in interest-rate hikes at officials' meeting next week.
The personal-consumption expenditures price index, the Fed's preferred inflation gauge, rose 0.4% from the prior month, the same pace as in August, the Commerce Department said Friday. But so-called core prices, which exclude volatile food and energy categories, increased 0.3% in September from the prior month, compared with a 0.1% rise in August...
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