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remained at 2.5% for the year ending in July, the Bureau of Economic Analysis reported Friday in an update to the personal consumption expenditures price index, the gauge favored by the Federal Reserve.took office. It is some welcome news for Vice President Kamala Harris, as inflation is top problem on voters’ minds, although a further slowdown would have been even better news.
PCE inflation is charting lower than the consumer price index, which is the most closely watched inflation gauge. The most recent reading of the CPI showed that inflation fell slightly to 2.9% for the year ending in July.
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