Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows

By: The personal consumption expenditures price index, the Fed’s primary inflation reading, rose a seasonally adjusted 0.1% for the month, putting the annual inflation rate at 2.3%. Excluding food and energy, core PCE posted respective readings of 0.2% and 2.7%, compared with estimates for 0.1% and 2.6%. Consumer spending and income showed further signs of…

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