The Federal Reserve’s preferred inflation measure edged higher in July, reversing some of the prior month’s sharp drop as the central bank works to bring inflation back to its 2% target. The Personal Consumption Expenditures (PCE) Index excluding the cost of food and energy, or so-called “core” PCE, rose 4.2% over the prior year in July, in-line with economist expectations and up from 4.1% in June, data released by the Commerce Department on Thursday showed. On a headline basis, which includes all categories, PCE inflation rose 3.3% year-over-year in July, up from 3% the month prior and in line with expectations. NN: Inflation is not dead. And what is more important the FED ( 2 ton gorilla) agrees. Now you wanna here the story assholes in the fake news media don’t tell you. The inflation numbers get worse from here on out. Food and energy inflation is back. And wage push inflation will bring a tear to your eye. Unions workers are getting humongous bonuses and pay increases. Double digit Fed Funds Rates here we come.