Fox Business reported that Core PCE, which excludes food and energy, jumped 3.4% annually, up from the 3.1% increase in April, the Bureau of Economic Analysis said. The reading was the strongest since April 1992.
Prices rose 0.5% on a monthly basis, slowing slightly from April’s 0.7% gain.
Analysts surveyed by Refinitiv were expecting a 3.4% annual increase and 0.6% monthly gain.
Overall, personal consumption expenditures rose 3.9% year over year and 0.4% from April.
Additionally, personal income declined 2% in May as the impact from stimulus checks continued to subside. Income fell 13.1% in April.
That’s great. We are indebting our great-grandchildren for a few months of funding.
Spending was unchanged in May. The prior month’s reading was revised up to an increase of 0.9% from 0.5% growth.
All I know is my gas costs twice as much and many restaurants are becoming unaffordable.
You would think the economy alone would be enough that no Democrat ever be elected in the future.
Diesel is $3.50 a gallon along interstate, food prices fluctuate wildly and there are always shortages now. Gas is just over $3 and also about $3.50 along the interstate. Anything on sale at the grocery moves quickly especially if the price is right. The extra big ass Sack N’ Save is now too small for the amount of people but… Read more »