The Fed's Preferred Inflation Metric Just Topped 4%. Here's What That Might Mean for Future Interest Rates
High energy prices from the Iran war continue to keep inflation elevated.
The Fed's Preferred Inflation Metric Just Topped 4%. Here's What That Might Mean for Future Interest Rates
Overview
Inflation continues to hit three-year highs, largely due to the Iran war.
The personal consumption expenditures (PCE) price index clocked inflation at a seasonally-adjusted 4.1% in May, the highest level since April 2023. That number, the headline year-over-year reading, came in line with economists’ estimates.
Details
On a monthly basis, the PCE rose 0.4%, 10 basis points (0.1%) below consensus estimates.
Source
Originally published at www.fool.com.
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