#Breaking News
On June 12, 2024, at 8:30 A.M. Eastern Time, the Bureau of Labor Statistics released the Consumer Price Index (CPI) data for May 2024. The annual inflation rate in the US slowed to 3.3% in May, down from 3.4% in April and below the forecasted 3.4%. Month-over-month, the CPI remained unchanged, falling short of the anticipated 0.1% increase. This stagnation was due to a drop in gasoline prices, which offset rising shelter costs.
Core inflation, which excludes volatile items like food and energy, also slowed. Annually, core inflation eased to 3.4%, below the expected 3.5% and down from 3.6% in April. Monthly core inflation fell to 0.2% from 0.3%, outperforming forecasts of 0.3%.