Forecasters expect inflation as measured by the Personal Consumption Expenditures (PCE) index slowed down in May, according to a survey of economists by Dow Jones Newswires and the Wall Street Journal. The median forecast calls for PCE prices to have risen 2.6% over the past 12 months, down from 2.7% in April. “Core” inflation, which excludes volatile prices for food and energy, likely slipped to 2.6% from 2.8%, reaching its lowest level since March 2021 and inching towards the Federal Reserve’s goal of a 2% annual rate.
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