The 's preferred measure ticked up last month, in a sign that the central bank's battle against price increases isn't over yet.Excluding food and energy prices, the personal consumption expenditures price index rose 4.2 percent in July, up from June's reading of 4.1 percent, the Commerce Department reported on Thursday.The so-called core PCE figure is the one Fed policy makers focus on for their 2 percent annual inflation target. It hit a 40-year peak of 5.4 percent in February 2022.
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