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MNI BRIEF: May Core PCE Inflation Falls To 2.6%, Lowest Since March 2021

(MNI) WASHINGTON
USDataCentral Bank NewsHomepageFederal ReserveData BriefGlobalStoryNorth America

The overall PCE price index fell 0.01% in May and rose just 0.08% excluding food and energy, on par with analysts expectations and adding to evidence that disinflation has resumed after a sideways first quarter. The 12-month rate for both headline and core PCE inflation fell to 2.6%, the lowest since March 2021 for the core index. 

Prices for goods decreased 0.4% and rose 0.2% for services, the Bureau of Economic Analysis said Friday. Personal income increased 0.5% and personal consumption expenditures rose 0.2%. (See: MNI INTERVIEW: Fed Already Well Behind The Curve On Cuts -Tracy)

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The overall PCE price index fell 0.01% in May and rose just 0.08% excluding food and energy, on par with analysts expectations and adding to evidence that disinflation has resumed after a sideways first quarter. The 12-month rate for both headline and core PCE inflation fell to 2.6%, the lowest since March 2021 for the core index. 

Prices for goods decreased 0.4% and rose 0.2% for services, the Bureau of Economic Analysis said Friday. Personal income increased 0.5% and personal consumption expenditures rose 0.2%. (See: MNI INTERVIEW: Fed Already Well Behind The Curve On Cuts -Tracy)