US Inflation Accelerates and Spending Rises
US inflation accelerated in September as consumers faced higher prices for gasoline and other goods. The Personal Consumption Expenditures Price Index climbed 0.5% while consumer spending also rose, supporting expectations for a December rate hike.
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United States inflation accelerated in September as consumers faced higher prices for gasoline and other goods, with the PCE Price Index rising 0.5%. The uptick supports expectations of a benchmark rate increase by the Federal Reserve in December. Gross domestic product expanded at a 3.4% annualized rate in the third quarter.
