US prices didn’t rise last month for the first time since November
The Personal Consumption Expenditures price index — a closely watched inflation gauge that the Federal Reserve uses for its 2% target — was unchanged from April and slowed to 2.6% for the 12 months ended in May from 2.7% the month before, according to Commerce Department data released Friday.
This story is developing and will be updated.
The sluggish inflation rate might impact various business sectors, potentially affecting the broader economy. Investors often monitor economic indicators like the PCE price index and business trends to make informed investment decisions.
