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Fed Faces Mixed Signals From Economy as It Considers Another Rate Increase

The Federal Reserve is facing mixed signals on U.S. inflation as it weighs whether to raise short-term interest rates one more time in 2017.

The Fed’s preferred price gauge, the personal-consumption expenditures price index, rose 0.2% in August from a year earlier, the Commerce Department said Friday. Excluding volatile food and energy prices, the index rose a modest 0.1% on the month, less than economists had expected.

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