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00:02The Federal Reserve's preferred inflation gauge rose to its highest level since 2023,
00:07reinforcing the central bank's tough stance on inflation, according to CNBC. Core personal
00:12consumption expenditures rose 3.4% annually and 0.3% for the month, both in line with estimates.
00:19The annual core reading was the highest since October 2023. Headline P, CE rose 4.1% annually,
00:27the highest since April 2023, and climbed 0.4% monthly. Energy prices led the gains,
00:34rising 4% for the month. Housing costs rose 0.3%, while financial services and insurance
00:39jumped 1.2%. Consumer spending rose 0.7%, ahead of forecasts, while personal income also climbed
00:470.7%. GDP grew at a 2.1% annualized pace in the first quarter, and jobless claims fell to
00:55215,000.
00:56For all things money, visit Benzinga.com.
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