The Federal Reserve’s preferred inflation gauge accelerated in August, keeping the pressure on economic policymakers who are watching warily as supply chain issues and commodity costs threaten to keep price gains elevated for longer than they had expected.

The Personal Consumption Expenditures index continued to climb at its fastest pace since 1991, rising by 4.3 percent in the year through August. That beat out the prior month’s reading of 4.2 percent.

The monthly index also remained elevated, climbing by 0.4 percent for a second straight month.


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