US Inflation Measure Reaches Three-Year High in May

The Personal Consumption Expenditures (PCE) index, a key inflation metric for the Federal Reserve, increased to an annual rate of 4.1% in May, the highest level since April 2023. Core PCE, excluding food and energy, also rose. This data comes alongside reports of 2.1% economic expansion in Q1 and a drop in unemployment claims, presenting a mixed economic picture.