Core inflation rate watched by Fed hit 2.8%, delayed September data shows, lower than expected

A key inflation measure was lower than expected in September, the Commerce Department said Friday in a report delayed by the government shutdown that gives a further green light for the Federal Reserve to lower interest rates.The core personal consumption expenditures price index, which excludes volatile food and energy prices, indicated a 0.2% monthly rise while the annual rate was 2.8%. The monthly rate was in line with the Dow Jones consensus, but the annual level was 0.1 percentage point lower.In additi ...