(RTTNews) - The Commerce Department released a closely watched report on Wednesday showing consumer prices in the U.S. rose by slightly less than expected in the month of August. The Commerce Department said its personal consumption expenditures (PCE) price index increased by 0.3 percent in August following a revised 0.1 percent uptick in July. Economists had expected prices to climb by 0.4 percent compared to the 0.2 percent increase originally reported for the previous month. The report also said the annual rate of growth by the PCE price index came in at 3.4 percent in August, unchanged from a revised reading in July. The annual rate of growth was expected to remain unchanged compared to the 3.
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