The Consumer Price Index rose 4% for the year ending in May, the lowest annual inflation rate since March 2021,; economists were expecting a 0.2% jump. Core inflation, which excludes volatile food and energy prices, rose 0.4% monthly and 5.3% annually. Used cars and trucks posted a 4.
4% monthly price increase in May, the largest of all items in the CPI. Gasoline prices fell 5.6% from April to May, and were down 19.7% annually. Shelter and food prices both ticked up slightly from April to May, and were up 8% and 6.7% from a year ago, respectively.How the Media Covered It:
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US inflation rose 4% in May, lowest in 2 yearsThe annual increase was the smallest in more than two years and comes the same month America’s resilient job market added a mammoth 339,000 jobs last month.
Source: nypost - 🏆 91. / 67 Read more »
US inflation may have eased in May, but underlying price measures likely remained highConsumer price increases in the United States likely slowed sharply last month, extending a steady easing of inflation over the past year
Source: WOKVNews - 🏆 247. / 63 Read more »
US inflation may have eased in May, but underlying price measures likely remained highConsumer price increases in the United States likely slowed sharply last month, extending a steady easing of inflation over the past year.
Source: ksatnews - 🏆 442. / 53 Read more »
Bank of Japan set to keep ultra-low rates, may signal inflation overshootThe Bank of Japan (BOJ) is expected to maintain ultra-loose monetary policy this week and its forecast for a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources said.
Source: Reuters - 🏆 2. / 97 Read more »
Consumer inflation expectations continue to drop in MayConsumers continue to believe inflation will recede alongside a resilient labor market, according to a New York Fed's survey of consumer expectations.
Source: axios - 🏆 302. / 63 Read more »
Stock futures are flat ahead of key May inflation reportThe S&P 500 and Nasdaq Composite closed on Monday at their highest levels since last April.
Source: CNBC - 🏆 12. / 72 Read more »