US Inflation Subsides and Canadian Economy Flatlines
The Federal Reserve’s preferred inflation measure continued its moderation in August and personal spending missed expectations, helping bolster bets on a second consecutive oversized rate cut at the central bank’s November meeting. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index rising 0.1 percent from the prior month, undershooting market forecasts for a 0.2 percent increase. On a year-over-year basis, core price growth rose to 2.7 percent, aligning with economist estimates as base effects shifted comparisons. The overall personal consumption expenditures index also rose 0.1 percent relative to the prior month, and...