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The BEA’s annual revisions shaved a few tenths off the rate of inflation. But spending levels suggest the Fed’s fight is far from over.
August inflation came in well below forecasts, but a quiet change in how the government counts service prices may deserve the credit. Here is what that means for the Fed's October decision and the rate-sensitive assets in your portfolio.
The Federal Reserve’s primary inflation measure showed a smaller-than-expected price increase in August, offering some relief to markets anxious about rising borrowing costs. The personal consumption expenditures price index rose 0.3% on a seasonally adjusted monthly basis, putting the 12-month headline gain at 3.4%,…