U.S. inflation rate creeps higher, PCE finds, leaving Fed with more work to do

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The numbers: The cost of goods and services rose a mild 0.2% in July, but overall inflation crept higher and remained stuck above 3%.

Economists polled by The Wall Street Journal had forecast a 0.2% advance in the personal consumption expenditures index.

The increase in prices over the past year, meanwhile, moved up to 3.3% from 3%, the…

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