Materials Up After Inflation Data - Materials Roundup

Producers of metals and other raw materials rose after inflation data.

The personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, rose in August, but not by as much as spending increased, suggesting that inflation was not a major headwind for U.S. consumers.

Traders bet the Fed would be comfortable continuing its rate-cut cycle with inflation at the current level, weighing on the value of the U.S. dollar.

Gold futures, which are particularly sensitive to dollar moves, closed at $3775.30 an ounce, the second highest level ever.

Wheat futures fell on the Chicago Board of Trade after a bumper harvest in the U.S.

Write to Rob Curran at rob.curran@dowjones.com