"Despite fears of inflation due to fluctuating tariffs, the consumer price index rose only 0.1% in May, signaling a more stable economic outlook."
"The 1% decline in energy prices countered food and shelter cost increases, resulting in an annual inflation rate of 2.4%, which is viewed positively by economists."
In May, the consumer price index (CPI) increased 0.1%, falling short of economists' expectations of 0.2%, projecting an annual inflation rate of 2.4%. This modest rise is attributed to a 1% decline in energy prices, balancing out a 0.3% increase in food and shelter costs. Furthermore, core inflation also saw a 0.1% rise, lower than the anticipated 0.3%. Investors reacted positively, reflected by a slight uptick in the Vanguard S&P 500 ETF during early trading. Reports on earnings from companies like Chewy showed positive performance as well.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]