Inflation Remains Undefeated (opens in new tab)

The Federal Reserve’s preferred inflation gauge just delivered another reminder that inflation has not been defeated. The Personal Consumption Expenditures (PCE) Price Index rose 4.1% year-over-year in May, the highest annual reading in three years, after climbing 0.4% during the month alone. Even stripping out food and energy, the so-called “core” PCE increased another 0.3% […]