Prices up 2.6% in May from one year ago, according to key Fed inflation measure

Inflation rose 2.6% in May from one year prior, according to a key Fed measure.

A Commerce Department report released on Friday showed that the "core personal consumption expenditures price index" ticked up slightly to a seasonally adjusted 0.1% for May and was up 2.6% from a year ago.

The figures released by the Commerce Department were consistent with the previous Dow Jones estimates.

Inflation was flat in May and up 2.6% on an annual basis when including food and energy prices.