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Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected

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Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected

A key economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years.

The personal consumption expenditures price index increased just 0.1% for the month and was up 2.6% from a year ago, the latter number down 0.2 percentage point from the April level, according to a Commerce Department report Friday.

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