Roundup: U.S. Fed's closely watched inflation measure surges in May

WASHINGTON, June 30 (Xinhua) -- U.S. personal consumption expenditures (PCE), the Federal Reserve's preferred inflation measure, rose 6.3 percent in May over the past year, the Commerce Department reported on Thursday.

The latest data is another reminder that inflation has been persistently high, which would warrant the Fed's continued aggressive rate hikes at its upcoming policy meetings.