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Fed's go-to inflation gauge confirms mild price increases in June
The Federal Reserve's preferred inflation index showed prices increased at a moderate pace last month — the latest indication that America's inflation crisis is nearing its end. Why it matters: The data also showed that consumers spent at a healthy clip in June as income gains outpaced that of inflation, signs of a still-solid economy. By the numbers: The personal consumption expenditures index—the inflation gauge watched most closely by Fed officials—rose 0.1% in June after a flat reading the prior month, the Commerce Department said on Friday. • Excluding food and energy, the core measure rose 0.2%, a tick ... (full story)