ACTV - Prices Stable In May: Time To Cut Rates?
2024-06-13 03:20:00 ET
Summary
- Prices held steady in May - CPI grew at a continuously compounding annual rate of 0.1% last month.
- Shelter prices, which rose at an annualized rate of 4.8% last month and 5.3% over the last year, continue to grow faster than almost all other prices.
- Inflation appeared to be in check during the second half of 2023, but then it picked up during the first quarter of 2024.
By Alexander William Salter
Prices held steady in May, the Bureau of Labor Statistics reported on June 12. The Consumer Price Index grew at a continuously compounding annual rate of just 0.1 percent last month. It has grown 3.2 percent over the last year. Core CPI, which excludes volatile food and energy prices, grew at a continuously compounding annual rate of 2.0 percent in May and 3.4 percent over the last year....
Prices Stable In May: Time To Cut Rates?