The Federal Reserve’s preferred measure of inflation, released Friday, showed that it had risen 2.8% in September from a year ago.

The Personal Consumption Expenditures, or PCE, index measures consumer spending on goods and services. It accounts for about two thirds of nationwide spending and is a significant part of national economic output.

From the month before, core inflation, which strips out volatile food and energy categories, was up 0.3% in September, slightly less than had been expected. Analysts surveyed by Dow Jones had expected 2.9%.

However, in yet another economic warning sign for the Federal Reserve, personal spending was flat September. Although, excluding food and energy, spending rose 0.2% from August.

"The unchanged reading for real consumption in September was accom

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