Fed inflation gauge expected to show faster May price gains (opens in new tab)

Forecasters expect the Federal Reserve’s preferred inflation measure, the personal consumption expenditures price index, to show faster price growth for May when it is released Thursday. Business Standard reported that economists expect the index to accelerate on both a monthly and year-over-year basis. Bloomberg reported that the latest reading is unlikely to challenge a growing consensus at the U.S. central bank that interest-rate hikes will be needed this year. The release is scheduled for...