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The Fed's preferred inflation gauge accelerated to 3.6% in September

Monthly prices rose 0.5% in September, and core inflation reached 3.1% from a year earlier, the Bureau of Economic Analysis said

CHARLY TRIBALLEAU / Getty Images

The Bureau of Economic Analysis reported on Thursday that the personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, rose 3.6% in September from a year earlier, up from 3.4% in August.

Month over month, the index gained 0.5% in September after a 0.3% increase in August. Excluding food and energy, prices rose 0.3% for the month and 3.1%........

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