Fed’s preferred measure of inflation is highly anticipated
Global shares gained Friday as traders looked ahead to a key report on inflation that could influence the Federal Reserve’s next move on interest rates.
In Japan, the government reported industrial production was stronger than forecast in May at 2.8% and the unemployment rate was unchanged from the previous month at 2.6%. Economists expect the report to show a modest easing of inflation to 2.6% in May, following a 2.7% reading in April. That’s down from the PCE’s peak of 7.1% in the middle of 2022. Other measures of inflation, including the consumer price index, have also eased significantly over the last two years.
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