Annual inflation rose at its fastest pace in more than 30 years during September despite a decline in personal income, the Commerce Department reported Friday.
Headline price pressures as gauged by the personal consumption expenditures price index including food and energy increased 0.3% for the month, pushing the year-over-year gain to 4.4%. That’s the fastest pace since January 1991.
The core PCE, the measure the Federal Reserve prioritizes, rose 0.2% for the month and 3.6% for the 12-month period, the highest since May 1991.
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