U.S. inflation eases in May, consumer spending shows moderate growth
Washington DC: U.S. prices remained steady in May, while consumer spending saw a moderate increase, a trend that might prompt the Federal Reserve to consider cutting interest rates this year, reported Reuters.
According to the Commerce Department's Bureau of Economic Analysis, the personal consumption expenditures (PCE) price index showed no change last month after an unchanged 0.3% rise in April.
Over the 12 months leading up to May, the PCE price index rose by 2.6%, following a 2.7% increase in April.
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