US PCE price index showed 0% monthly inflation in May, same as the headline CPI reading reported earlier, showing signs that inflation is again decelerating.
Core PCE, which excludes energy and food prices, rose less than 0.1% in the same month, the lowest since November. For yearly growth rate, both PCE and core PCE increased close to 2.6%.
The readings, alongside with a 0.2% month-over-month increase in personal consumption expenditure, which was merely a step higher than the 0.1% in April, supports market narrative that consumption sentiment has weakened in Q2 and helped easing inflationary pressure in the US economy.
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