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The headline inflation index in America recorded its largest annual rise in nearly 30 years
The US Commerce Department reported that the key inflation indicator the Fed uses to set policy rose 3.4% in May, the fastest increase since the early 1990s.
Although the gains were the largest since April 1992, they came with Dow Jones' estimation, and the markets did not react much to the news.
Stock market futures pointed to a gain of about 150 points for the Dow at the open, while government bond yields were mostly flat.
The increase in the core PCE price index reflects the rapid pace of economic expansion and the resulting price pressures.
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