Personal Consumption Expenditures Index Is Latest Sign of Persistent Price Pressures
A Costco shopper in Sheridan, Colo. (David Zalubowski/Associated Press)
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WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.
The Jan. 31 report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a 2.4% annual pace in November and the third straight increase. Excluding the volatile food and energy categories, prices increased 2.8% co…
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