The PCE price index was expected to increase 0.1% in June and 2.5% from a year ago.
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Unemployment among Black workers falls in August, bucking trend from other groups
The unemployment rate for Black Americans crept lower in August.
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Health care and hospitality were key drivers for a job market that has cooled off in recent months.
Fed Governor Waller backs interest rate cut at September meeting
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August payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2%
Nonfarm payrolls were expected to expand by 161,000 in August while the unemployment rate fell to 4.2%.
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