Core Inflation rises To 3.4 %, Highest Level In Three Years But In Line With Expectations

Core inflation, the Federal Reserve's preferred price gauge, rose to its highest level since 2023. (Credit: Getty Images)

The Federal Reserve's preferred price gauge rose to its highest level since 2023, new figures showed.

Concretely, the core personal consumption expenditures price index climbed 0.3% for the month, with the inter-annual figure clocking in at 3.4%, the highest number since October 2023. The figure was in line with the Dow Jones Consensus.