An excerpt from the article … note the last paragraph
Dex
[[[The numbers: A key gauge of U.S. inflation rose 0.6% in May largely due to the higher cost of gas and food, but there were renewed signs that price pressures were starting to ease.
The increase in the so-called personal consumption price index was triple the 0.2% gain in April.
But a narrower measure of inflation that omits volatile food and energy costs, known as the core PCE, rose by relatively modest 0.3% for the fourth month in a row. That was below Wall Street’s 0.4% forecast.
The rate of inflation over the past year was unchanged at 6.3% in April.
The yearly rate has backed off a little after touching a 40-year high a few months ago.
The core rate of inflation slowed to 4.7% in the 12 months ended in May from 4.9% in April and 5.2% in March.The inflation readings in the core PCE rate from February through May were the smallest since the end of 2020.]]]
