Inflation eased in May, according to the metric favored by officials at the Federal Reserve.
Inflation eased in May, according to the metric favored by officials at the Federal Reserve.
Headline inflation stood steady at 6.3% in the personal consumption expenditures index, the Bureau of Economic Analysis reported Thursday morning.
But “core” inflation — that is, with the volatile prices of food and energy stripped out — fell, from 4.9% to 4.7%. May was the third month in a row that core inflation fell, a possible signal for the central bank that inflation pressures may be lessening.
The PCE index is separate from the more widely known consumer price index, which showed inflation rising to a blistering 8.6% in May.
This is a developing story and will be updated.
