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Published 1 month ago

US consumer prices flat in May, defying expectations for slight rise

  • Consumer prices remained steady, resulting in a 3.3% year-over-year increase, lower than the previous month's 3.6%.
  • Prices for airfares, furniture, and clothing dropped in May, contributing to inflation control. Auto insurance costs declined slightly, despite a 20% increase from last year.
  • President Biden noted progress in lowering inflation, citing a nearly two-thirds decrease from its peak. The dip in auto insurance prices played a significant role in suppressing core inflation.
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