the August personal consumption expenditure inflation figures on Friday, the undercurrents of household prices suggest that the path to two percent is likely to be a long march and may require additional monetary tightening.below expectations for August
But it might not have been as big a victory as it looks. A large contributor to the decline in core inflation was a, from 2.5 percent in July to 0.5 percent in August, including a sizable decline in portfolio management and investment services. These move with the stock prices. With the S&P 500 dropping 1.8 percent in August, that brought down portfolio management inflation from 6.9 percent in July to 0.5 percent in August.
Measures of underlying inflation suggested either a lack of progress on inflation or actual acceleration. Democrat U.S. Senate candidate Dianne Feinstein celebrates her primary win in California on June 2, 1992. , which the establishment media had dubbed “The Year of the Woman.” The extreme length of her tenure in the Senate became one of the key reasons many California Democrats continued to support her.