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US inflation tops 4% for first time in three years, boosts Fed hike bets
US inflation surged past 4.0% in May, driven by Middle East conflict-fueled energy prices, marking the highest increase in three years. This development pushes the Federal Reserve closer to potential interest rate hikes this year. Despite consumers facing higher costs, spending has remained robust, buoyed by tax refunds and a stock market rally.
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washingtonexaminer.com
Inflation rose to 4.1% in May in Fed’s preferred gauge
Inflation rose three-tenths of a percentage point to 4.1% for the year ending in May, the Bureau of Labor Statistics reported.
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benzinga.com
Fed's Favorite Inflation Gauge Hits 3-Year High, Fueling Rate-Hike Bets
PCE inflation rose further in May, reinforcing bets the Fed hikes rates by October as Chair Kevin Warsh keeps policy tight to cool prices.
