The annual increase was the smallest in more than two years and comes the same month America’s resilient job market added a mammoth 339,000 jobs last month.
US data from May showed that inflation is decelerating — giving the Federal Reserve room for a long-anticipated pause in its rate-hiking campaign when it meets later this week.
Last month’s annual increase was the smallest in more than two years, and comes the same month America’s resilient job market added a mammoth 339,000 jobs.Still, core CPI, which excludes volatile food and energy prices, rose a concerning 0.4% from a month ago, and 5.3% from one year ago.released on Tuesday.
Last month’s CPI rose 4% in May compared to the same month in 2022 — the smallest increase in two years.Among other indexes that rose in May was for motor vehicle insurance, which increased 2.0%, as well as transportation services, apparel, personal care and education.
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