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US inflation rises less than expected in Aug
WASHINGTON: US inflation increased less than expected in August, which could see financial markets further reduce the odds of another interest rate increase from the Federal Reserve next month. The Personal Consumption Expenditures Price Index rose 0.3percent last month after a downwardly revised 0.1percent gain in July, the Commerce Department’s Bureau of Economic Analysis said on Wednesday. Economists polled by Reuters had forecast the PCE price index rising 0.4percent after a previously reported 0.2percent gain in July. In the 12 months through August, PCE inflation advanced 3.4percent afte...
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