PANews reported on September 26th that according to Jinshi, US data released on Friday showed that the Federal Reserve's preferred inflation measure remained above target last month, posing a challenge for the Fed's policymaking amid a weakening labor market. The data showed that consumer prices rose 0.3% month-over-month in August, bringing PCE inflation to 2.7% over the past year, up from 2.6% the previous month. The core measure remained at 2.9%. These figures were not surprising to economists, who can estimate PCE inflation with high accuracy by plugging other official price data into their formulas. However, the data suggest that after the Fed's first interest rate cut of the year, while easing labor market slack, it must remain vigilant against excessive inflationary pressures. Friday's report also showed signs of economic resilience. Consumer spending, a key pillar of the economy, remained strong in August, growing at a 0.6% rate, up from 0.5% in July.