Consumer prices unchanged in May; Up 3.3% from year ago

In May, the Consumer Price Index (CPI) remained unchanged, signaling a slight easing of inflationary pressures on the U.S. economy, according to the Labor Department’s report released Wednesday.

Compared to a year ago, the CPI increased by 3.3%, slightly below economists’ expectations of a 0.1% monthly increase and a 3.4% annual rise.

In April, the CPI had risen by 0.3% month-over-month, with an annual increase also at 3.3%.

Excluding volatile food and energy prices, the core CPI rose by 0.2% from the previous month and by 3.4% from a year ago, slightly below forecasts of 0.3% and 3.5%, respectively.

Following the release of the report, stock market futures responded positively with gains, while Treasury yields declined, CNBC has reported.

read more: https://www.cnbc.com/2024/06/12/cpi-report-june-inflation.html

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