May US Core PCE Price Index rises YoY 4.6% Vs. expected 4.7% gain, prior 4.7% gain.
The increase prices over the past year slowed to 3.8% from 4.3% and dropped to the lowest level in two years, the government said Friday. Waning gas and food prices have played a big role in restraining inflation this year.
A separate gauge that omits food and energy rose a sharper 0.3%, however. Wall Street expected a 0.3% increase.
The rise in the so-called core PCE rate of inflation over the past year dipped to 4.6% from 4.7%. It’s fallen more slowly than the headline number and suggests inflation is likely to persist for some time.
Inflation is slowing, but it’s still too high for the Fed. Senior Fed officials worry that rising labor costs and price increases in major parts of the economy such as housing could keep inflation at elevated levels for a few more years. The latest PCE report is unlikely to give the Fed reason to continue to pause rate hikes at its next big meeting in July, MarketWatch reported.
5月美国核心个人消费支出价格指数同比上涨4.6％，而预期的涨幅为4.7％，之前的涨幅为4.7％。
政府周五表示，过去一年的价格上涨幅度从4.3％放缓至3.8％，并降至两年来的最低水平。今年，天然气和食品价格的下跌在抑制通货膨胀方面发挥了重要作用。
但是，另一项省略食物和能源的指标上涨了0.3％。华尔街预计上涨0.3％。
过去一年，所谓的核心个人消费支出通货膨胀率的上升幅度从4.7％降至4.6％。它的下降速度比标题数字要慢，这表明通货膨胀可能会持续一段时间。
Inflation is slowing, but it’s still too high for the Fed. Senior Fed officials worry that rising labor costs and price increases in major parts of the economy such as housing could keep inflation at elevated levels for a few more years. The latest PCE report is unlikely to give the Fed reason to continue to pause rate hikes at its next big meeting in July.
