US PCE price index rises 0.3% in August

The US Personal Consumption Expenditures price index rose 0.3% in August, according to data released on September 30 by the Bureau of Economic Analysis.

The result came in below the 0.4% increase expected by economists surveyed by Reuters, following an unrevised 0.2% gain in July.

Over the past 12 months, the inflation gauge favored by the Federal Reserve accumulated an increase of 3.4%. This print remains above the 2% annual target set by the US central bank.

The core index, which excludes volatile food and energy components, climbed 0.1% on a monthly basis. In annual terms, core inflation advanced 3%.