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US inflation rises less than expected in August; consumer spending surges - The Economic Times
US inflation rose less than expected in August, with the PCE price index increasing 0.3% month-on-month and 2.6% year-on-year. Core PCE rose 0.2% monthly and 3% annually. The softer inflation reading may reduce expectations of another Federal Reserve rate hike next month, while consumer spending surged 0.9%.
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