Fed’s preferred gauge shows rampant U.S. inflation hotter than expected in August

According to new data released on Friday, the U.S. Federal Reserve’s preferred inflation gauge accelerated again in August, keeping prices elevated near a four-decade high.Megan Henney for FOX Business:
The personal consumption expenditures index showed that core prices, which strip out the more volatile measurements of food and energy, climbed 0.6% from the previous month and rose 4.9% on an annual basis, according to the Commerce Department. Those figures are both higher than the 0.5% mo