Inflation flatlines in May as pressure on Biden ramps up ...Middle East

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. The latest inflation print comes amid a protracted plateau in the central bank’s battle to further cool once-scorching price growth, and rising political pressure related to the economy and inflation as the November election nears. Former President Tr

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Last updated : 28 June 2024 clock 03:45 PM

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Inflation flatlines in May as pressure on Biden ramps up ...Middle East

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