Inflation & Prices
Powell’s Favored Inflation Gauge for Services Hits 10-Month Low
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A measure of US core services prices that Federal Reserve officials are watching closely posted its smallest advance since July of last year.
Prices of services excluding energy services and housing costs rose 0.23% in May, according to Bloomberg calculations based on data published Friday by the Bureau of Economic Analysis. On a year-over-year basis, they were up 4.53%.