【CNBC】Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed

• The core personal consumption expenditures price index rose 0.4% in April and 4.7% from a year ago, both a touch higher than expected.
• Despite the higher inflation rate, consumer spending held up well as personal income increased. Spending jumped 0.8% for the month, while personal income accelerated 0.4%.
• Immediately following the report, market pricing swung to a 56% chance that the Fed will enact another quarter percentage point interest rate hike at the June meeting.

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