The price index tracking consumer spending — the PCE price index — was up 4.3% over the 12 months ending in August. That was a faster pace than July's 4.2%. Inflation continued to run at the fastest pace since January 1991. The PCE inflation gauge is one of many, and they're not all pointing in the same direction: The consumer price inflation index came off a 13-year high in August, for example. But the PCE index is the Federal Reserve's preferred measure of inflation. Although prices rose sharply, American incomes increased at only a modest pace, up 0.2% or $35.5...