Investing.com - The core personal consumption expenditures price index, which strips out items like food and fuel, rose at a slower-than-anticipated rate in August.

According to data from the Bureau of Economic Analysis on Wednesday, the core PCE measure climbed 0.2% month-on-month, compared to 0.1% in July and expectations for growth of 0.3%.

In the twelve months to August, the measure stood at 3.0%, matching July's rate of 3.0% and also cooler than projections.

All items included, the gauge grew 0.3% month-on-month and 3.4% year-on-year.

Policymakers at the Federal Reserve closely watch these gauges when they calibrate interest rates.

(This is a developing story. Please check back later for updates.)

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