Wall Street

Fed Inflation Gauge Spikes Higher In June, Pushing Rate Hike Bets

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The Street

By Martin Baccardax The Fed’s preferred inflation gauge spiked higher last month, suggesting consumer price pressures will extend through the summer months. The Federal Reserve’s preferred measure of U.S. inflation spiked higher last month, data indicated Friday, suggesting consumer prices pressures are unlikely fade over the near-term amid elevated crude prices and global supply chain disruptions. The June core PCE Price Index rose 4.8% from last year, near the highest levels since 1983, and 0.6% on the month, the Bureau of Economic Analysis reported, a figure that modestly ahead of Wall Stre…

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