Fed's preferred inflation measure rose 4.7% in May, around multi-decade highs

[mahatmakanejeeves]

Source: CNBC

ECONOMY

Fed's preferred inflation measure rose 4.7% in May, around multi-decade highs

PUBLISHED THU, JUN 30 2022 * 8:33 AM EDT * UPDATED MOMENTS AGO

Jeff Cox
@JEFF.COX.7528
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Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a gauge closely watched by the Federal Reserve.

Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2 percentage points less than the previous month

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Read more: https://www.cnbc.com/2022/06/30/feds-preferred-inflation-measure-rose-4point7percent-in-may-near-40-year-high.html

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On an annual basis.

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INFLATION WATCH: U.S. prices rose 0.6% in May based on Fed’s preferred PCE inflation gauge. The rate of inflation in the past 12 months was unchanged at 6.3%. Better-known CPI shows inflation has risen an even faster 8.6% in same span. Core PCE rises 0.3%, up 4.7% in past year.

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[Calista241]

1. This is so bad I don't know even how to verbalize it. n/t