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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.
It’s been a tough quarter for investors, with interest rates soaring to levels not seen in over a decade.
On Friday, the S&P 500 dropped 0.2%, capping off its worst week since March.
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What investors will be watching over the next seven days
July’s PCE headline and core inflation both ticked higher but in line with analyst predictions.