Published 2 years ago

Key inflation gauge tracked by the Fed remains a high 6.3%

Summary by Ground News

A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April. Consumer spending rose at a sluggish 0.2% rate from April to May. Consumer spending is beginning to weaken in the face of high inflation.

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Reuters

U.S. consumer spending, underlying inflation slow in May

U.S. consumer spending rose less than expected in May as motor vehicles remained scarce while higher prices forced cutbacks on purchases of other goods, another sign that the rebound in economic growth early in the second quarter was losing steam.

2 years ago·United Kingdom

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Associated Press News

Key inflation gauge tracked by the Fed remains a high 6.3%

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday's report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and people of color.

2 years ago·United States

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abc News

Key inflation gauge tracked by the Fed remains a high 6.3%

A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April

2 years ago·United States

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CNN

This key inflation measure held steady in May

An inflation gauge closely followed by the Federal Reserve showed consumer prices remained flat in May, indicating that inflation had yet to abate despite the central bank's initial efforts to cool the economy.

2 years ago·Atlanta, United States

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The Washington Post

Consumer spending growth slows in May, as higher prices weigh on the economy

Consumer spending has so far been a bright spot in the U.S. economy, even as inflation hits 40-year highs. But household spending slowed in May, compared with April.

2 years ago

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KRDO

Key inflation gauge tracked by the Fed remains a high 6.3%

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting

2 years ago·Colorado Springs, United States

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