High gas prices pushed annual inflation to the highest level in three years, according to May data released by the Commerce Department on Thursday.
The PCE price index for April was expected to show an annual inflation rate of 3.8% for all items and 3.3% for core.
The core PCE price index, the Fed's preferred inflation gauge, accelerated a seasonally adjusted 0.3% for the month, pushing the 12-month inflation rate to 3.2%. Headline prices rose 0.7%, putting the ...
Consumer prices surged 3.8% in April from a year ago. That's according to data released today from the Department of Labor. SACHA PFEIFFER, HOST: It's the highest annual reading since May 2023, and it ...
WASHINGTON, April 10 (Reuters) - When surging U.S. inflation peaked in June of 2022, driven by rising prices for energy but also for food, shelter, vehicles, and a host of other items, Federal ...
Inflation hit its highest level in three years last month, according to fresh data released this week — but new Federal Reserve Chair Kevin Warsh wants the central bank to focus on different measures.
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WASHINGTON, April 15 (Reuters) - High oil prices are likely to keep underlying inflation nearly a percentage point above the Federal Reserve's 2% target for the rest of this year, with the U.S.
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