The Federal Reserve’s preferred inflation gauge rose to 2.8% year-on-year in September, further above the US central bank’s 2.0% target.
Personal consumption expenditure (PCE) price index data was released on Friday, which was delayed due to the US government shutdown.
On a monthly basis, the PCE price index rose from 2.7% in August.
The report is the last major inflation reading ahead of the Fed’s rate decision next week.
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