Fed’s preferred inflation measure due Wednesday

The Federal Reserve’s main inflation gauge is expected to show little change when new data are released Wednesday, with price pressures still running above the central bank’s 2% target. The report will include the personal consumption expenditures price index, along with consumer spending and income data. Economists expect the index to rise 0.3% on both the headline and core measures for August, leaving annual inflation at 3.7% and 3.3%, respectively. Recent comments from Fed officials suggest policymakers still see room for another rate increase before the end of the year. Fed officials have said inflation remains too high, even as the economy and consumer spending continue to hold up. The report also comes as the Bureau of Economic Analysis updates its methodology, which could revise some earlier inflation readings lower.