An inflation measure closely watched by the <a href="https://foxbusiness.com/category/the-fed" target="_blank">Federal Reserve</a> ticked higher in August as steep prices continue to squeeze millions of U.S. households.&nbsp;

The personal consumption expenditures (PCE) index showed that consumer prices rose 0.4% from the previous month, according to the Labor Department. On an annual basis, prices climbed 3.6% — up from 3.3% recorded the previous month, underscoring the challenge of <a href="https://foxnews.com/category/us/economy/inflation" target="_blank">taming high inflation.</a>&nbsp;

The figures were both in line with estimates from Refintiv economists.

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An inflation measure that is closely watched by the Federal Reserve accelerated in August, underscoring the challenge in combating steep consumer prices.{ai:summary}Inflation rises in the US, squeezing households. Consumer prices climb 3.6% annually, highlighting the challenge of taming high inflation. #economy

Key Fed inflation gauge accelerated again in August as high prices persist

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