Inflation Slows in May, With Consumer Prices Up 3.3% From a Year Ago

June 13, 2024

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a year ago, according to the department’s Bureau of Labor Statistics. Economists surveyed by Dow Jones had been looking for a 0.1% monthly gain and a 3.4% annual rate. The monthly rate rose 0.3% in April while the annual rate was 3.3%.

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