The Fed's preferred inflation gauge rose 0.2% in July, in line with forecasts from analysts. Concretely, the core personal consumption expenditures price index gained 0.2% last month and clocked in at 3.3% for the year, data from the Department of Commerce showed.
The index that does not exclude more volatile components like food and energy also rose 0.2% and put the annual inflation rate at 3.7%, above analysts' expectations.
