The PCE annual rate in the United States recorded 4.1% in May, and the Federal Reserve expects to raise interest rates this year

The US Department of Commerce released data on Thursday showing that the PCE price index in May recorded an annual rate of 4.1%, the first time since April 2023 that it exceeded 4.0%. The Middle East conflict has pushed up energy prices, while consumers are also dealing with price increases caused by Trump's large-scale import tariffs. The Federal Reserve kept interest rates unchanged in the range of 3.50% -3.75% last week, and updated quarterly forecasts show that policymakers expect to raise rates this year. The financial market is betting on raising interest rates as early as September, and there will be another rate hike thereafter.