Prices increased 4.1% over the last year. Core PCE, which excludes food and fuel, climbed to 3.4%, the highest since last fall. The figures match what experts predicted. They also raise odds the Fed will hike rates again soon. Energy costs declined while other prices trended up. Analysts say the mix could determine the central bank’s next step.
Latest News About US PCE Report Shows Rising Prices and Fed Rate Hike Odds
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