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Inflation ticked up slightly to 3 5% in August in Fed s preferred gauge

Inflation ticked up a tenth of a percentage point to 3.5% for the year ending in August, as measured by the personal consumption expenditures price index, the gauge favored by the Federal Reserve.

Stock Market News Today: S&P 500 Closes Out Worst Month of 2023

The S&P 500 ended September 5% lower, notching its second-straight losing month. For the third quarter, it lost about 4%.

Fed s preferred inflation measure edges higher in July

The Federal Reserve's preferred inflation metric edged higher in July, likely raising the odds of another Fed rate hike at its November meeting.

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