Mumbai, Aug. 26 -- The personal consumption expenditures price index, which the Fed uses as its preferred forecasting tool, increased a seasonally adjusted 0.2% for the month of July, putting the annual inflation rate at 3.7%, the Commerce Department reported Wednesday. Leaving out volatile food and energy costs, core PCE posted respective gains of 0.2% and 3.3%. The data also showed that personal income rose 0.4% while spending increased 0.2%.
Published by HT Digital Content Services with permission from Capital Market....