Key Fed inflation measure shows prices rose just 0.3% in May

Inflation pressures eased slightly in May as consumer spending slowed considerably, according to a Commerce Department report released Friday.

The

, a number closely watched by the Federal Reserve, increased 0.3% for the month when excluding food and energy, a number that was in line with the Dow Jones estimate. So-called core PCE increased 4.6% from a year ago, 0.1 percentage point less than…