Inflation Here, High. Key Fed Inflation Index Reaches 30-Year Peak

(Washington, DC) — A key Federal Reserve inflation index is reaching a 30-year high. The core personal consumption expenditures price index grew zero-point-three percent in August. It’s also up three-point-six percent from last year. Both numbers slightly beat expectations. It comes as central bank Chairman Jerome Powell warned this week inflation could still be at a high level going forward. He admitted in a European Central Bank panel discussion that supply chain issues may indeed be getting worse and predicted those issues could extend into next year.