US inflation picks up, keeping Fed tilted toward another hike2 min read 26 May 2023, 07:19 PM IST
Excluding food and energy, the so-called core PCE index increased 0.4% from the prior month and 4.7% from April 2022, also exceeding projections. Economists consider this to be a better gauge of underlying inflation
US inflation and consumer spending accelerated last month, highlighting steady price pressures and demand that will keep Federal Reserve policy makers tilted toward raising interest rates further.
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