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.
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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.
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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.
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Year over year, the "core" services category dropped from 5.1% to 4.6%, excluding the cost of housing.
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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.
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On June 14, the Federal Reserve is due to announce its latest interest rate policy following ten consecutive rate hikes since March of 2022.
