A key measure of in the US remained stubbornly high last month, in a sign that higher prices are becoming entrenched despite the 's attempts to fight them by cooling the economy.
The personal consumption expenditures (PCE) price index rose 6.2 percent in August from a year ago, down from recent peaks but still persistently high, the Commerce Department said on Friday.
The PCE measure, which is preferred by the Fed for its flexible 2 percent target rate, is an alternative gauge to the better-known , which was stuck at 8.3 percent in August over last year.
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