Higher gas prices lift Fed's preferred inflation gauge but underlying price pressures remain mild
File - As shoppers wait in the background, a woman looks at Apple's new iPhone 15 at an Apple Store in Los Angeles, Friday, Sept. 22, 2023. On Friday, the Commerce Department issues its August report on consumer spending. (AP Photo/Jae C. Hong, File)
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating....
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