Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.3% in May from 2.2% in April (revised from 2.1%), the US Bureau of Economic Analysis reported on Friday. This reading came in line with the market expectation.

The Federal Reserve’s preferred inflation gauges showed underlying price pressures easing in May, reinforcing the case for interest rate cuts later this | Economy