WASHINGTON—A key measure of inflation remained near the Federal Reserve’s target in August, according to data released Friday, as policy makers reiterate plans to continue to raising interest rates through next year.
The personal-consumption-expenditures price index was up 0.1% from July and 2.2% from August 2017, owing in part to a sharp rise in oil prices earlier this year, the Commerce Department said Friday. The core PCE price index, which excludes volatile food and energy prices, was flat in August from July but rose...