Core PCE Inflation Cools to 3.0% YoY in August

US core PCE price index, the Fed's preferred inflation gauge, rose 0.2% month-over-month and 3.0% year-over-year in August, both below economist expectations of 0.3% and 3.3%. Headline PCE was 3.4% YoY versus 3.7% forecast, while consumer spending surged 0.9%.