Federal Reserve's Inflation Gauge Jumped in July

Need2Know Headlines

The latest read on inflation is among key several economic data points out this morning. The core personal consumption expenditures index which excludes food and energy show that prices rose 4.2% in July from a year ago and 2/10 of a percent from June. That's according to the latest data from the Commerce Department. This is the Federal Reserve's preferred measure of inflation. The tick up in inflation could push the fed to raise interest rates yet again.