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Key Fed inflation gauge rose 2.8% annually in February‚ as expected
Inflation rose in line with expectations in February‚ likely keeping the Federal Reserve on hold before it can start considering interest rate cuts‚ according to a measure the central bank considers its more important barometer.
The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago‚ the Commerce Department reported Friday.. Both numbers matched the Dow Jones estimates.
Including volatile...
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