US Inflation Accelerates in May, Consumer Spending Declines
TL;DR Summary
The Federal Reserve's preferred inflation measure, the core PCE index, showed a rise in May, with inflation remaining above the 2% target, while economic activity slowed, leading markets to increasingly price in a potential interest rate cut later this year.
- Fed's preferred inflation gauge shows price increases accelerated in May Yahoo Finance
- Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows CNBC
- Gloomy Americans cut back on spending as inflation ticks higher AP News
- US Consumer Spending Drops in May, Price Pressures Remain Muted Bloomberg
- PCE Inflation Was Slightly Hotter in May as Economists Brace for Trump’s Tariffs The New York Times
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