Fed Inflation Gauge Eases Again In May, But Inflation Pressures Clip Consumer Spending

By Martin Baccardax While overall inflation pressures are easing modestly, the impact of the fastest inflation in four decades is taking its toll on spending, BEA data indicated Thursday. The Federal Reserve’s preferred measure of U.S. inflation eased for a second month in May, data indicated Thursday, but consumer prices pressures continue to holding back spending in the world’s biggest economy. The May core PCE Price Index rose 4.7% from last year, easing from the highest levels since 1983, and 0.3% on the month, the Bureau of Economic Analysis reported, a figure that modestly lower than Wal…

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