Headline, core PCE inflation both ease in May, as expected

May PCE Price Index: +0.0% M/M vs. +0.0% consensus and +0.3% in April.

+2.6% Y/Y vs. +2.6% expected and +2.7% prior.

Core PCE Price Index, which excludes volatile food and energy costs, edged up 0.1% vs. +0.1% expected and +0.3% prior (revised from +0.2%). Federal Reserve policymakers prefer to focus on the core measure because it measures what consumers are actually spending.

+2.6% Y/Y vs. +2.6% expected and +2.8% prior.