The Personal Consumption Expenditures index picked up in September, according to data released a day after the Federal Reserve’s decision to hold interest rates steady.

© Ben Stansall/Agence France-Presse — Getty Images

Federal Reserve officials are expected to restart rate increases in December, but the cadence of additional moves will depend on the data.

© Julia Demaree Nikhinson/Associated Press

Prime minister vows not to slash health and education funding amid political problem over handling of economy

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Anthony Albanese has ruled out major cuts to health, education and essential services in December’s mid-year budget update, but conceded savings are required as Labor struggles to curb accelerating inflation.

Amid growing pressure from within Labor’s own ranks, as well as from the opposition and business, Albanese said the Coalition was hypocritical in not supporting existing savings proposals, including the government’s plan to reduce the private health insurance rebate for people over 65.

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© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

Kevin M. Warsh, the chairman of the Federal Reserve, said an “information-rich” period before the central bank’s gathering in December will help officials determine next steps for policy.

© Athit Perawongmetha/Reuters