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US PCE inflation measure tops 4.0% in May; consumer spending strong

The US personal consumption expenditures price index rose 4.1% in May, reaching a three-year high. Energy prices increased due to conflict in the Middle East, though oil prices have since fallen. The Federal Reserve may consider raising interest rates as a result.

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What changed

May inflation data shows the PCE measure broke 4.0% for the first time in three years.

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  1. US PCE Inflation Exceeds 4.0% in May Amid Strong Consumer Spending

    The US personal consumption expenditures price index rose 4.1% in May, reaching a three-year high. Energy prices increased due to conflict in the Middle East, though oil prices have since fallen. The Federal Reserve may consider raising interest rates as a result.

    What's confirmed:

    • The personal consumption expenditures price index surged 4.1% in May.
    • US inflation broke above 4.0% in May for the first time in three years.
    • Core inflation reached 3.4% in May, the highest level since October 2023.
    • Energy prices were boosted by conflict in the Middle East.
    • Consumer spending remained strong.

    Still unconfirmed:

    • A slowdown in consumer spending is expected due to rising living costs.
    • The Iran War pushed up prices.
    confidence 95%