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US inflation climbs to highest since 2023 as consumer spending and income beat forecasts
US consumer spending rose 0.7% in May as CPI hit 4.2%, a three-year high. Here's what the inflation-spending paradox means for crypto and risk assets.
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cfodive.com
Consumer spending rises as inflation speeds up to three-year high
Traders in interest rate futures see 80% odds that the Federal Reserve will raise the federal funds rate by at least a quarter percentage point by the end of this year.
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cnbc.com
Core inflation rate hit 3.4% in May, highest since October 2023, Fed’s preferred gauge shows
The personal consumption expenditures price index was expected to show a 4.1% annual increase.
