Fed’s Preferred Inflation Gauge Rises to Highest Level Since May 2023

Underlying inflation pressures appear tamer.

A man at a gas station in Columbia, Md., on May 17, 2023. Madalina Vasiliu/The Epoch Times

Consumers felt another month of inflation’s squeeze in April, new U.S. government data released on May 28 show.

The Personal Consumption Expenditures (PCE) Price Index—the Federal Reserve’s preferred inflation measurement—shot up to 3.8 percent last month, according to the Bureau of Economic Analysis.