US core inflation continues decline
Headline PCE inflation flat as food and energy inflation remains buoyant
Core inflation in the US continued on a downward trend in May, according to the personal consumption expenditures (PCE) inflation index.
Figures released on June 30 show PCE inflation excluding food and energy fell to 4.7% year on year in May, down from 4.9% in April. Core inflation peaked at 5.3% in February.
Headline PCE inflation was 6.3% in May, unchanged from a month earlier and down from a March peak of 6.6%. The Bureau of Economic Analysis said the May figure reflected increases in both
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