The Fed’s preferred measure of inflation shows signs of cooling
More news - Breaking news The Federal Reserve's preferred inflation gauge continues to show signs of cooling, accompanied by moderate growth in consumer spending - good news for central banks as they aim to control rising prices and curb demand. In May, the personal consumption expenditures (PCE) index rose 2.6% from a year earlier, in line with economists' expectations and down slightly from April's 2.7% increase. Excluding more volatile food and fuel prices, the measure of "core" inflation also rose 2.6% year-on-year, down from 2.8% in April. On a monthly basis, inflation remained particularly moderate, with overall prices showing no…