In May, U.S. inflation rose to 2.4% year-over-year due to increased food costs, up from 2.3% in April. Core inflation, excluding food and energy, remained stable at 2.8% for three months, suggesting persistent price pressures above the Federal Reserve's 2% target. This complicates the likelihood of interest rate cuts. While some prices fell, such as clothing and airline fares, grocery prices continued to climb. Concerns arose over the Labor Department's data reduction, potentially impacting future volatility in inflation reporting as economists monitor the effects of tariffs and other influences on consumer prices.
U.S. inflation rose to 2.4% in May, signaling persistent price pressures that exceed the Federal Reserve's 2% target, complicating potential interest rate cuts.
Core prices also increased 2.8% for the third consecutive month, leading economists to emphasize their importance as a better indicator of future inflation trends.
Collection
[
|
...
]