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

The personal consumption expenditures (PCE) index showed that consumer prices rose 0.2% from the previous month and climbed 3.3% on an annual basis, according to the Labor Department.&nbsp;

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An inflation measure that is closely watched by the Federal Reserve accelerated in July, underscoring the challenge in combating steep consumer prices.{ai:summary}Inflation rises in July as consumer prices continue to squeeze American households. #economy

Key Fed inflation gauge accelerates to 3.3% in July as high prices persist

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