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  • Core US Inflation Picks Up, Damping Odds of Outsize Fed Cut

    From bnnbloomberg.ca

    Underlying US inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% from July, the most in four months, and 3.2% from a year ago, Bureau of Labor Statistics figures showed Wednesday. The three-month annualized rate advanced 2.1%, picking up from 1.6% in July, according to Bloomberg calculations. Economists see the core gauge as a better indicator of underlying inflation than the overall CPI. That measure ... (full story)

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