Bad inflation news continues

Anyone looking for inflation relief in the Federal Reserve’s preferred measure didn’t find it on Friday, and that likely means more financial trouble ahead as the Fed tightens further.

The personal consumption expenditure price index, which the Fed uses when assessing pricing pressures in the economy, rose 6.2% in August from a year earlier. That’s down from July’s 6.4% and June’s 7%, but it still signals that inflation has become broad-based and sticky. Goods prices fell during the month, but services prices rose sharply by 0.6%.