 I'm Nicole Murray with your Money Now. The Personal Consumption Expenditures Price Index, an inflation measure the Federal Reserve watches closely, is expected to show little, if any, monthly increase for May. When stripping out volatile food and energy prices, the Core PCE Price Index is set to indicate its lowest annual reading since March of 2021. The Commerce Department releases the inflation readings, along with reports on personal income and spending, later this morning at 8.30 a.m. ET.