KEY POINTS

A new report found core inflation held steady in August while headline inflation moved up slightly.

U.S. consumer spending remains robust in spite of price increases.

The Fed is likely to welcome new data following last week's interest rate cut.

In spite of still-rising prices on most goods and services, a Friday report from the Commerce Department finds the pace of consumer spending jumped more than expected in August and is a factor helping buoy a U.S. economy that’s facing elevated inflation alongside a rickety jobs market.

The Bureau of Economic Analysis reports the personal consumption expenditures price index moved up 0.3% on a monthly basis from July to August with annual inflation coming in at 2.7% last month, up one-tenth of a percent from July’s 12-month readi

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