Inflation measure closely watched by the Fed rises 0.3% in AprilMay 31, 2024 at 08:33 AM EDT
The Federal Reserve's favorite measure of tracking inflation climbed 0.3% in April as American families continue to grapple with elevated consumer prices.
The personal consumption expenditures index showed that prices rose 0.3% from the previous month, according to the Labor Department. On an annual basis, prices climbed 2.7%. Both of those figures are in line with expectations. This is a developing story. Please check back for updates. 
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