Fed’s preferred inflation gauge shows a modest rise in latest sign of slowing price increases

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SHOPPERS PASS a display of Halloween goods in a Costco warehouse in Thornton, Colo. On Thursday, the Commerce Department issues its July report on consumer spending. / ASSOCIATED PRESS FILE PHOTO / DAVID ZALUBOWSKI
WASHINGTON (AP) – An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September. Thursday's report from the Commerce Department showed that prices rose just 0.2% from…

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