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PCE rose 0.1% in May after being little changed in April. Over the past 12 months, PCE increased by 2.2%, slightly below analysts’ expectations of 2.3% but 0.1 percentage points higher than April’s annual rate of 2.1%.

Core PCE increased to 2.7% from April’s 2.5% year-over-year rate and increased 0.2% in May, slightly above analysts’ expectations of 2.6% and 0.1%, respectively.

Relevant Sources:
Bureau of Economic Analysis Release: bea.gov