US Fed's Preferred Inflation Gauge Rises, With More Cost Pressures Expected

US consumer spending rose slightly more than expected in August but inflation also ticked up, with further cost pressures likely to come (Credit: AFP)

The US Federal Reserve's preferred inflation measure edged up in August as tariffs filtered through the economy, government data showed Friday, with analysts warning of further cost pressures after President Donald Trump unveiled a slew of upcoming duties.

But personal spending also rose last month, pointing to resilience in consumption -- a key driver of the world's biggest economy.