- Core inflation rose 3.6% in August from a year ago, the biggest jump in more than 30 years.
- Personal spending increased 0.8%, slightly higher than the estimate.
Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures, the Commerce Department reported Friday.
The core personal consumption expenditures price index, which excludes food and energy costs and is the Federal Reserve's preferred measure of inflation, increased 0.3% for the month and was up 3.6% from a year ago. The monthly gain was slightly higher than the 0.2% Dow Jones estimate and the annual forecast of 3.5%.
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