Federal Reserve’s Preferred PCE Inflation Ticks Up Slightly

The Federal Reserve’s preferred inflation measure rose in May, a reading that could influence the U.S. central bank’s timing of interest rate cuts.

New Bureau of Economic Analysis data, released on June 27, show that inflation in the personal consumption expenditures (PCE) price index ticked up to 2.3 percent last month from an upwardly revised 2.2 percent in April.