Inflation Eases in May, but Consumer Prices Stay Elevated 📉

Inflation Cooling , While Consumer Prices , Remain High.<br />In May, consumer price growth fell to <br />the lowest level since March of 2021, <br />according to Bureau of Labor Statistics. .<br />NBC reports that data would seem <br />to suggest that inflation may finally be <br />starting to come down in a meaningful way.<br />NBC reports that data would seem <br />to suggest that inflation may finally be <br />starting to come down in a meaningful way.<br />Price growth fell to 4% on an annual <br />basis, while month-over-month <br />saw price growth climb by 0.1%.<br />Economists had forecast just 4.1% growth. .<br />The price of services saw a notable decline <br />in growth, as did medical services and air travel.<br />The price of services saw a notable decline <br />in growth, as did medical services and air travel.<br />The price of services saw a notable decline <br />in growth, as did medical services and air travel.<br />According to NBC, this is a key category <br />watched closely by the Federal Reserve.<br />Year over year, the "core" services category <br />dropped from 5.1% to 4.6%, <br />excluding the cost of housing. .<br />Year over year, the "core" services category <br />dropped from 5.1% to 4.6%, <br />excluding the cost of housing. .<br />However, food price growth continues <br />to accelerate faster than other categories, <br />rising by 6.7% year over year.<br />However, food price growth continues <br />to accelerate faster than other categories, <br />rising by 6.7% year over year.<br />The cost of at-home food <br />increased by 5.8%, while eating out <br />got 8.3% more expensive.<br />The cost of at-home food <br />increased by 5.8%, while eating out <br />got 8.3% more expensive.<br />On June 14, the Federal Reserve is due to announce <br />its latest interest rate policy following <br />ten consecutive rate hikes since March of 2022. .<br />On June 14, the Federal Reserve is due to announce <br />its latest interest rate policy following <br />ten consecutive rate hikes since March of 2022.