WASHINGTON, D.C. — The US Federal Reserve's (Fed) favored measure of inflation eased slightly in May, according to government data published on Friday, as goods prices cooled.
WASHINGTON, D.C. — The US Federal Reserve's favored measure of inflation eased slightly in May, according to government data published on Friday, as goods prices cooled.The data provide the US central bank with further evidence that its fight against inflation is back on track after a small uptick in the annual inflation rate in the first quarter of the year.The personal consumption expenditures price index rose at an annual rate of 2.
But they are unlikely to cause policymakers to immediately take action, given that inflation remains stuck above the bank's long-term target of 2 percent.Stripping out volatile food and energy prices, the closely watched 'core' measure of inflation eased to an annual rate of 2.6 percent in May, in line with expectations — a sign that underlying prices cooled further.The data published Friday also show that personal income rose by 0.
Fed's Inflation Measure Cools Slightly
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