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Consumer price inflation slowed much more than expected in May

Posted on AllSides June 12th, 2024
From The Left
David Paul Morris/Bloomberg/Getty Images

Inflation cooled in May, new data showed Wednesday, delivering a welcome piece of news just hours before the Federal Reserve is set to make its latest announcement on interest rates.

Consumer prices rose 3.3% from a year earlier, slowing from April’s 3.4% rate, according to the Bureau of Labor Statistics’ latest Consumer Price Index report released Wednesday.

On a monthly basis, prices were flat, a slower pace from April’s 0.3% gain.

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https://www.cnn.com/2024/06/12/economy/consumer-price-index-inflation-may/index.html

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