The US Federal Reserve’s preferred measure of underlying US inflation posted its biggest monthly gain since April, bolstering the case for a slower pace of interest rate cuts following September’s outsize reduction.
The so-called core personal consumption expenditures price index, which strips out volatile food and energy items, increased 0.3 per cent in September, and 2.7 per cent from a year earlier, according to Bureau of Economic Analysis data out Thursday (Friday AEDT).
