Annual Inflation Slows to 4.0% in May, Lowest Since March 2021
The Bureau of Labor Statistics released the latest Consumer Price Index (CPI) data Tuesday morning, showing the index in May up 4.0% on the year and slightly below expectations. This was the smallest annual increase since March 2021 and marked the eleventh consecutive month of year-over-year declines.
In April, annual inflation was reported at 4.9%. Additional signs of cooling inflation in the latest data boosted optimism among traders that the Federal Reserve may pause interest rate increases for the first time in a year and a half. The Federal Reserve...
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