Breaking: US annual Core PCE inflation falls to 4.7% in May as expected
|Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.3% on a yearly basis in May, the US Bureau of Economic Analysis announced on Thursday.
The Core PCE Price Index, the Federal Reserve's preferred gauge of inflation, declined to 4.7% in the same period from 4.9% in April. This print came in line with the market expectation.
Further details of the publication revealed that Personal Income and Personal Spending rose by 0.5% and 0.2%, respectively, on a monthly basis in May.
Market reaction
The US Dollar Index edged slightly lower from session highs after this data but was last seen rising 0.2% on the day at 105.30.
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