US prices didn’t rise last month for the first time since November
CNN
Prices in the US didn’t rise in May, marking the first time since November that there was no monthly increase.
Prices in the US didn’t rise in May, marking the first time since November that there was no monthly increase. The Personal Consumption Expenditures price index — a closely watched inflation gauge that the Federal Reserve uses for its 2% target — was unchanged from April and slowed to 2.6% for the 12 months ended in May from 2.7% the month before, according to Commerce Department data released Friday. Falling gas prices (down 2.1% for the month) and cheaper goods prices (down 0.4%) helped to slow overall inflation, according to the report. Food prices increased a modest 0.1%. Excluding energy and food — categories that tend to be quite volatile — the core PCE price index increased by 0.1% for the month, cooling to a fresh three-year low of 2.6% from 2.8% the month before. Friday’s report came in line with expectations. The Commerce Department’s monthly Personal Income and Outlays report also includes critical data on how Americans earn, spend and save.
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