⚠️BREAKING: *U.S. CPI EASED TO 4% IN MAY TO ITS LOWEST LEVEL IN OVER TWO YEARS 🇺🇸🇺🇸
in the U.S. rose at a slower pace yet again in May, potentially bolstering the case for the Federal Reserve to push pause on a long-standing policy tightening campaign later this week.for the month increased by 4.0% on an annual basis, down from 4.9% in April, according to data from the Bureau of Labor Statistics on Tuesday. Economists had expected the number to cool to 4.1%.
It was headline inflation's eleventh straight month of easing and the slowest rate since early 2021, but the figure still remains double the Fed's stated 2% target.A fall in airline fares and gasoline prices added downward pressure on to inflation, although these declines were offset by a jump in shelter and used car costs.
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US inflation may have eased in May, but underlying price measures likely remained highConsumer price increases in the United States likely slowed sharply last month, extending a steady easing of inflation over the past year.
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