Fed's Preferred Inflation Metric Hits 4% in May
Inflation reached a three-year high with the Fed's preferred metric, the personal consumption expenditures (PCE) price index, hitting 4.1% year-over-year in May 2026 due to ongoing geopolitical tensions like the Iran war. The core PCE rose by 3.4%, both figures aligning with economists' expectations.
Topics: Fed policy inflation interest rates