Fed's Preferred Inflation Metric Hits 4.1% in May
The U.S. Federal Reserve’s preferred inflation metric, the Personal Consumption Expenditures (PCE) price index, rose to a three-year high of 4.1% year-over-year in May. The core PCE also increased by 3.4%, both figures aligning with economists' expectations and signaling continued upward pressure on prices.
Topics: economic data Federal Reserve inflation