Inflation & Prices
US Inflation Cooled While Consumer Spending Picked Up in June
- Core PCE price index rose 4.1% from year ago, down from 4.6%
- Gain in inflation-adjusted spending led by strong truck sales
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Key US inflation measures continued to cool and consumer spending picked up in June, adding to momentum in the economy ahead of the third quarter.
The personal consumption expenditures price index rose 0.2% last month from May, Commerce Department data showed Friday. From a year ago, the measure that the Federal Reserve uses to track its 2% inflation goal increased 3% — the slowest pace in more than two years.