Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2 percentage points less than the previous month but still around levels last seen in the 1980s. On monthly basis, the measure, which excludes volatile food and energy prices, increased 0.3%, slightly less than the 0.4% Dow Jones estimate. While personal income rose 0.5% in May, ahead of the 0.4% estimate, income after taxes and other charges, or disposable personal income, declined 0.1% on the month and 3.3% from a year ago. Goods inflation rose 9.6% while services prices were up 4.7%, both up 0.1 percentage points from April. The personal saving rate edged higher, rising to 5.4%, up 0.2 percentage points from the previous month.cnbc.com
Roanoke march to MLK statue honors 56th anniversary of Selma march
ROANOKE, Va. – Sunday marked the 56th anniversary of Martin Luther King, Jr’s “Bloody Sunday” march over the Edmund Pettus Bridge into Selma for voting rights. About a hundred people honored his actions by marching over the Roanoke bridge that bears his name. The march over the Martin Luther King, Jr. Bridge was led by Dr. King’s old organization, the Southern Christian Leadership Conference. Roanoke chapter president Dr. Perneller Chubb-Wilson recounted her experiences fighting with Dr. King for civil rights during Sunday’s event. “I’ve been fighting ever since 1963, when Martin Luther King was in Danville, Virginia,” Chubb-Wilson told a crowd at the base of Dr. King’s statue.