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By Kristin Myers, Editor-in-Chief

What's Happening Today

Inflation could be easing, the latest personal consumption expenditures (PCE) figures out today from the Bureau of Economic Analysis show. The PCE Price Index rose just 0.2% in April, down from March's 0.9% gain, in another sign that inflation is slowing. The index was up 6.3% since last year, a decline from March's 6.6%, the measure's highest yearly increase since 1982.

Excluding volatile food and energy prices, the "core" rate rose 0.3% in April, and 4.9% from a year ago, down from 5.2% the month before. The PCE Price Index is the Federal Reserve's preferred measurement of inflation (over the Consumer Price Index or CPI from the Bureau of Labor Statistics), and shows how much more consumers need to shell out for household goods and services.

Disposable and personal income has also risen, likely driven by an increase in wages as companies struggle to find workers to fill open positions. But it hasn't kept pace with inflation, which is making everything from groceries to weddings more expensive for all of us.

Stocks are rising today following the data releases and strong retail earnings from Macy's and other retailers. Earlier this week, investor fears were also soothed when minutes from the Fed's policy meeting showed a willingness to be aggressive as it tries to bring the rate of inflation down from 8.3% to its target of 2%.

- Kristin

Editors' Picks

As Consumers Keep Spending, Inflation Eases Slightly (The Balance)

US Wage Increases Show Signs of Peaking in Welcome Sign for Fed (Bloomberg)

When the Best Available Home Is the One You Already Have (The New York Times)

Gas Prices Are Surging, Demand Is Slipping Ahead of Memorial Day Weekend (The Wall Street Journal)

Latest White House Plan Would Forgive $10,000 in Student Debt Per Borrower (The Washington Post)

Inflation Is Making Weddings $2,316 More Expensive Than 2019 (The Balance)

How To Add a Name to Your Deed (The Balance)

Credit Score Is Just the Beginning of How You're Rated (The Balance)

Off the Charts

A Northwestern Mutual survey taken in February and released last week shows 43% of adults have made up at least some of the financial ground they lost during the first year of the pandemic, including 10% who have recovered so much that they are actually ahead of where they expected to be. Another 27% said they never lost ground in the first place, while 30% said they hadn't made up any ground at all.

Number of the Day

$1.25 - That's what shoppers now pay for most items at Dollar Tree, which made a landmark move to raise prices in order to restore profit margins sapped by inflation.