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US Fed's favored inflation gauge declined sharply in May
US Fed's favored inflation gauge declined sharply in May
Business and Economy
by  AFP

The US inflation measure most closely watched by the Federal Reserve declined sharply in May, official figures showed Friday, returning to a downward trend after a jump a month earlier. The personal consumption expenditures (PCE) index measure of inflation eased to 3.8 percent year-on-year in May, a significant drop from 4.3 percent a month earlier, the Commerce Department said in a statement.