Inflation Cooling , While Consumer Prices , Remain High.
In May, consumer price growth fell to
the lowest level since March of 2021,
according to Bureau of Labor Statistics. .
NBC reports that data would seem
to suggest that inflation may finally be
starting to come down in a meaningful way.
NBC reports that data would seem
to suggest that inflation may finally be
starting to come down in a meaningful way.
Price growth fell to 4% on an annual
basis, while month-over-month
saw price growth climb by 0.1%.
Economists had forecast just 4.1% growth. .
The price of services saw a notable decline
in growth, as did medical services and air travel.
The price of services saw a notable decline
in growth, as did medical services and air travel.
The price of services saw a notable decline
in growth, as did medical services and air travel.
According to NBC, this is a key category
watched closely by the Federal Reserve.
Year over year, the "core" services category
dropped from 5.1% to 4.6%,
excluding the cost of housing. .
Year over year, the "core" services category
dropped from 5.1% to 4.6%,
excluding the cost of housing. .
However, food price growth continues
to accelerate faster than other categories,
rising by 6.7% year over year.
However, food price growth continues
to accelerate faster than other categories,
rising by 6.7% year over year.
The cost of at-home food
increased by 5.8%, while eating out
got 8.3% more expensive.
The cost of at-home food
increased by 5.8%, while eating out
got 8.3% more expensive.
On June 14, the Federal Reserve is due to announce
its latest interest rate policy following
ten consecutive rate hikes since March of 2022. .
On June 14, the Federal Reserve is due to announce
its latest interest rate policy following
ten consecutive rate hikes since March of 2022.