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.
80 Articles
80 Articles
US inflation cooled in May in a sign that price pressures now easing
WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed. The trend, if it holds, could move the Federal Reserve closer to cutting its benchmark interest rate from its 23-year peak. Consumer prices excluding volatile food and energy costs — the closely watched “core” index — rose 0.2 percent from April to May, the government said We…
Trend, if maintained, could lead the Central American bank to get closer to cutting its basic interest rate.
US consumer inflation eases ahead of Fed interest rate decision
Fresh US consumer inflation data published Wednesday is unlikely to sway the Federal Reserve's plans to leave its key lending rate unchanged, but could alter how many rate cuts policymakers pencil in for this year.
US consumer inflation eases ahead of Fed interest rate decision
Fresh US consumer inflation data published Wednesday is unlikely to sway the Federal Reserve's plans to leave its key lending rate unchanged, but could alter how many rate cuts policymakers pencil in for this year.
Inflation in the United States unexpectedly fell in May. On the stock exchange, it was a thumbs up, even in Stockholm -- as it opens for interest rate cuts from the US central bank. “Good, but it's not enough,” comments a financial analyst
U.S. consumer inflation falls before Fed interest rate decision
U.S. consumer inflation continued to cool last month, according to US government data published Wednesday, giving the US Federal Reserve some positive news shortly before it publishes its latest interest rate decision. The annual consumer price index (CPI) came in at 3.3 percent in May, down 0.1 percentage point from April, the Labor Department said in a statement.This was slightly lower than the median forecast of economists surveyed by Dow Jon…
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