Inflation flatlines in May as pressure on Biden ramps up
by Taylor Giorno - 06/28/24 8:36 AM ET
The Federal Reserve’s favorite inflation gauge flatlined in May, according to new federal data released Friday.
Prices rose 0 percent in May and were up 2.6 percent from a year ago, according to the Commerce Department’s personal consumption expenditures (PCE) price index.
“Core” PCE inflation, which excludes more volatile food and energy prices, was just 0.1 percent from April to May and also fell to 2.6 percent year-over-year.
Inflation flatlined even as consumer spending and incomes rose last month. Disposable income was up 0.5 percent in May, and consumer spending ticked up 0.2 percent from a revised 0.1 percent in April.
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https://thehill.com/business/4744189-federal-reserve-inflation-plateau/
