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Key inflation gauge for the Fed rose 0.5% in September, in line with expectations



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Halloween candy is for sale at a Harris Teeter grocery store on October 17, 2022 in Washington, DC.Drew Angerer | Getty ImagesAn economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported Friday.The core personal consumption expenditures price index increased 0.5% from the previous month and accelerated 5.1% over the past 12 months, the report showed. The monthly gain was in line with Dow Jones estimates, while the annual increase was slightly below the 5.2% forecast.Including food and energy, PCE inflation rose 0.3% for the month and 6.2% on a yearly basis, the same as in August.The report comes as the Fed is prepared to enact its sixth interest rate increase of the year at its policy meeting next week. In an effort to combat inflation running at its fastest pace in nearly 40 years, the Fed ha …

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