Two Measures of Inflation: August 2024
Published on October 2, 2024
The BEA's core Personal Consumption Expenditures (PCE) Price Index for August showed that core inflation continues to be above the Federal Reserve's 2% long-term target at 2.7%. The August core Consumer Price Index (CPI) release was higher, at 3.2%. The Fed is on record as using core PCE data as its primary inflation gauge.