The core PCE Price Index—which excludes the more volatile categories of food and energy—rose 2.5% year-over-year, easing from a 2.7% increase in March and matching analyst forecasts. Both the headline and core PCE indices saw modest monthly gains of 0.1%. In addition to the inflation data, the report showed that personal income rose 0.8% in April, while personal spending increased by 0.2% on a monthly basis, suggesting continued, albeit cautious, consumer activity.