Core PCE Inflation Rises 2.7% In May, Higher Than Expected

Summary

• The Fed’s preferred inflation gauge, the core PCE price index, rose 2.7% year-over-year in May.
• This was higher than the expected 2.6% growth and a pickup from 2.6% in April.
• The headline index was up 2.3% year-over-year, as expected.

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By Jennifer Nash

The Fed’s preferred inflation gauge, the core PCE price index, rose 2.7% year-over-year in May. This was higher than the expected 2.6% growth and a pickup from 2.6% in April. On a monthly basis, the core index was up 0.2%, more than the projected