Core Personal Consumption Expenditures (CorePCE) Price Index for May

The core inflation rate rose to 2.7% in May, exceeding expectations, according to the Federal Reserve's preferred measure.

Key Points

The Personal Consumption Expenditures Price Index, which is the Federal Reserve's preliminary measure of inflation, increased by 0.1% seasonally adjusted during the month, bringing the annual inflation rate to 2.3%.

Excluding food and energy, the Core Personal Consumption Expenditures Price Index recorded readings of 0.2% and 2.7% respectively, compared to expectations of 0.1% and 2.6%.

Consumer spending and income showed further signs of weakness. Spending fell by 0.1% during the month, while personal income decreased by 0.4%.

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