A key gauge of US inflation held steady in May

USA: Can President Biden Stop Rising Inflation?

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(CNN Business) --

An inflation gauge closely watched by the Federal Reserve (Fed) showed that consumer prices were flat in May, indicating that inflation is still not slowing, despite the bank's initial efforts. center for calming the economy.

• Americans cope with inflation by spending less on gas, buying lots of frozen pizza and cheap coffee.

The monthly price index for personal consumption expenditures (PCE) increased 6.3% in the year ending in May, the Commerce Department reported Thursday.

This figure coincides with that of April and suggests that the rise in prices has taken a breather since reaching a 40-year high of 6.6% in March.

The latest PCE report comes just three weeks after the consumer price index, another key measure of inflation, showed prices rose 8.6% year-on-year, their biggest increase in 40 years.

In the US they prepare for the increase in interest rates 2:32

Inflation