Inflation Cooling While Consumer Prices Remain High

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.