The Federal Reserve's preferred measure of underlying inflation rose at the slowest monthly pace since late 2020, while consumer spending edged up. 

The core personal consumption expenditures price index, which strips out the volatile food and energy components, rose 0.1% in August, according to the Bureau of Economic Analysis report out Friday. The overall PCE price index jumped 0.4%, reflecting a pickup in energy costs.

Inflation-adjusted consumer spending rose 0.1% last month. On a nominal basis, personal outlays increased 0.4% in August.

The report is likely the last major release from the government until lawmakers strike a deal to fund agencies. The government is expected to shutdown on Oct. 1, the start of the new fiscal year, due to a lapse in funding.

Source : Bloomberg