The Federal Reserve’s preferred inflation gauge climbed again in May as the energy shock continued to filter through the broader consumer basket, the Bureau of Economic Analysis reported Thursday.
The headline Personal Consumption Expenditure price index rose 0.4% on the month, missing the 0.5% expected after April’s 0.4% gain.
From a year earlier, it quickened from 3.8% to 4.1%, matching the 4.1% forecast and marking the highest reading since April 2023.
Core PCE, which strips out food and energy, rose 0.3% on the month, matching both the previous and expected 0.3%.-
The annual rate inched up from 3.3% to 3.4%, matching estimates.
