Key Inflation Gauge Tracked By Federal Reserve Remains At 6.3%

Thursday's report from the Commerce Department showed consumer spending is slowing as Americans feel the effects of record-high prices.

A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April.

Thursday's report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and people of color.

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