The annual rate of increase in the core personal consumption expenditures (PCE) price index in the United States in May hit a new low since March 2021.
Simply put, this means that the rate of price increases in the United States slowed down in May this year compared with last year.
The core PCE price index is an important indicator of price changes in goods and services purchased by consumers, removing fluctuations in food and energy prices. The lower increase this time indicates that inflationary pressures have eased and prices are not rising as fast as before.