The personal consumption expenditures price index excluding food and energy, an inflation measure followed closely by Fed officials, grew an annualized 5.2% last quarter. Monthly PCE data for April will be released on Friday.
A separate report Thursday showed applications for state unemployment insurance fell slightly last week, consistent with an extremely tight labor market.
--With assistance from Reade Pickert, Kristy Scheuble and Ana Monteiro.
This article was provided by Bloomberg News.