U.S. inflation’s pace was unchanged in May at an annual rate of 2.6 percent, the Commerce Department reported. Service prices rose 0.2 percent but were offset by a 0.4-percent decrease in goods prices, the largest since last November.
Tag: PCE
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KEY INFLATION GAUGE COMES IN HIGHER THAN EXPECTED
Despite the Federal Reserve raising interest rates five times this past year, inflation continues to be much higher than the central bank’s 2 percent target. The Personal Consumption Expenditures inflation measure, which was released Friday, showed the index rose last month by 6.2 percent from a year ago, which was slightly down from 6.4 percent...