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• US Inflation Data

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Economy & Finance

US Inflation Data

The latest US inflation data released today shows the core personal consumption expenditures (PCE) price index rose by 0.1% in May, marking a 2.6% annual increase, the lowest rate since March 2021. This measure, closely watched by the Federal Reserve, aligns with expectations and indicates a gradual slowdown in inflation. Personal income grew by 0.5%, surpassing forecasts, while consumer spending increased by 0.2%, slightly below predictions. Despite the easing inflation, housing costs continued to rise, prompting the Fed to remain cautious about interest rate cuts. This data suggests fewer rate cuts this year, reflecting ongoing economic resilience amid the Fed's monetary tightening efforts.

Technology

Meta

Meta has informed Australian lawmakers that it is awaiting the government's decision on whether to enforce a 2021 law requiring the company to pay fees to news publishers. If enforced, Meta is considering blocking news content from Facebook in Australia. This follows Meta's March announcement that it would cease entering new commercial deals for traditional news content in Australia and the US, focusing instead on products and services that boost user engagement. Meta's regional policy director, Mia Garlick, indicated that all options, including blocking news sharing, are being considered if the law is applied. This issue echoes a 2021 conflict when Facebook blocked Australian news content prior to the law's introduction and similar moves in Canada where Meta plans to end news access following the passage of the Online News Act.

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