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September 30, 2026
Core Inflation Hits 3.0% in August, Lower Than Expected
- The personal consumption expenditures price index rose 0.3% in August, with a 12-month gain of 3.4%.
- Core inflation, excluding food and energy, increased by 0.2%, bringing the annual rate to 3.0%.
- Traders are now pricing in a lower chance of a Fed rate hike in October, shifting expectations to December.
- Personal income rose 0.2% while spending increased 0.9%, both above consensus estimates.
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3 Sources
- Fed’s preferred gauge showed core inflation at 3.0% in August, much lighter than expectedSep 30, 2026 at 12:38 PM · CNBC
- Fed's preferred measure of inflation dips to 3.4 percent in AugustSep 30, 2026 at 12:42 PM · The Hill
- The affordability illusionSep 30, 2026 at 2:00 PM · The Hill