INFLATION CUT IN HALF FROM LAST YEAR’S PEAK, CORE PRICES STILL HIGH

Key Points:

  • The Consumer Price Index (CPI) rose 0.1% in May after rising 0.4% in April.
  • CPI increased 4.0% from a year ago, down from 4.9% in April, and the lowest reading since April 2021.
  • The index for energy decreased 3.6% over the month, food rose 0.2%, and shelter increased by 0.6% over the month.
  • The core CPI, which excludes food and energy, rose 0.4% in May and is up 5.3% from the previous year.
  • The energy index is down 11.7% and the food index is up 6.7% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source