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Consumer price inflation slowed much more than expected in May

Posted on AllSides June 12th, 2024
From The Center

(CNN) — 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. Economists were expecting a 0.1% monthly increase and an annual gain of 3.4%, according to FactSet consensus...

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https://krdo.com/news/2024/06/12/consumer-price-inflation-slowed-much-more-than-expected-in-may

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