Key Inflation Figure Rises More Than Expected In August

(Washington, DC) — A key inflation figure the Federal Reserve follows rose more than expected in August. The personal consumption expenditures price index, which looks at the cost of goods and services, jumped 4.9% on a year-over-year basis. The PCE excluding food and energy rose .6% for the month after being flat in July. The reading from the Commerce Department shows inflation running above the Fed’s two-percent long term target.