The latest PCE data reveals a sharp rise. May’s headline PCE climbed to 4.1%, the highest since 2021. The core reading reached 3.4%, up from last month. Both numbers were well above forecasts.
Consumer spending held strong last month. Officials now spot fresh pressure to maintain rates high. The data could lead the Fed to postpone planned cuts. Oil prices eased but did not stop the gains.
Core inflation rate hit 3.4% in May, highest since October 2023, Fed's preferred gauge shows CNBC
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Breaking: US core PCE inflation rises to 3.4% in May as expected FXStreet