Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
- Core personal consumption expenditures prices, excluding food and energy, rose 4.7% from a year ago, slightly less than expected.
- Headline inflation remained strong, rising 0.6% on the month and holding near the highest level since 1982.
- Disposable income and inflation-adjusted spending both declined on the month.
- Weekly jobless claims totaled 231,000, a slight decline from the previous period.
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