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Reaching the Federal Reserve's Target for the First Time in Six Years
US Consumer Prices Accelerated in May Year-on-Year and a Measure of L 39; underlying inflation reached 2% of the Federal Reserve for the first time in six years
The Personal Consumer Price Index (PCE) rose 0.2% after a similar increase in April, said Friday. Commerce Department. During the 12-month period ending in May, the ECP grew by 2.3%
Meanwhile, the ECP excluding the volatile components of food and energy rose 0.2% for the sixth consecutive month.
led to the rise in the core PCE index by 2%, the largest increase since April 2012. The underlying PCE is the Fed's preferred inflation measure.
Economists consulted in a Reuters poll projected that spending will increase by 0.4% in May. Meanwhile, personal income rose 0.4% in May after rising 0.2% in April.
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