An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration but right around Wall Street expectations, the Commerce Department reported Friday.
The personal consumption expenditures price index, which excludes food and energy, was expected to increase 3.6%.
That gain was slightly ahead of the 3.4% May increase and represents the biggest move since July 1991. For the full CNBC story, click here.
