Prices rose 4.1% over the last year. Core PCE, which ignores food and fuel, jumped to 3.4%, the highest since last fall. The figures align with what experts predicted. They also boost odds the Fed will raise rates again soon. Energy costs dropped while other prices moved up. Analysts say the mix could decide the central bank’s next step.
Latest News About Inflation Pressures Trend Upward in Latest PCE Report
Sources & References
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Core inflation rate hit 3.4% in May, highest since October 2023, Fed's preferred gauge shows - CNBC
Core inflation rate hit 3.4% in May, highest since October 2023, Fed's preferred gauge shows CNBC
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Inflation report could fuel concerns over higher interest rates, even as oil prices fall - NBC News
Inflation report could fuel concerns over higher interest rates, even as oil prices fall NBC News
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The Fed's preferred inflation gauge shows prices rising at fastest pace in 3 years - CBS News
The Fed's preferred inflation gauge shows prices rising at fastest pace in 3 years CBS News
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May PCE Report: PCE Inflation Index Up 4.1%, In Line With Expectations - Morningstar
May PCE Report: PCE Inflation Index Up 4.1%, In Line With Expectations Morningstar
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Breaking: US core PCE inflation rises to 3.4% in May as expected - FXStreet
Breaking: US core PCE inflation rises to 3.4% in May as expected FXStreet