U.S. PCE Price Index Rises 4.1% Year-over-Year in May, Highest Since April 2023

U.S. core PCE price index rose 0.3% month-over-month in May, while headline PCE climbed 4.1% year-over-year, marking the largest annual increase since April 2023 and matching expectations. The monthly core PCE increase also met forecasts, with year-over-year core PCE growth at 3.4%.
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