header logo image

WATCH LIVE

ECONOMY

Inflation slows in May, with consumer prices up 3.3% from a year ago

PUBLISHED WED, JUN 12 2024 8:31 AM EDT

UPDATED 14 MIN AGO

Jeff Cox

@JEFFCOXCNBCCOM

@JEFF.COX.7528

WATCH LIVE

KEY POINTS

The consumer price index held flat in May though it increased 3.3% from a year ago. Both numbers were 0.1 percentage point below market expectations.

Excluding volatile food and energy prices, core CPI increased 0.2% on the month and 3.4% from a year ago, compared with respective estimates of 0.3% and 3.5%.

Price increases were held in check by a 2% drop in the energy index and just a 0.1% increase in food.

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.

CONTINUE READING

TRENDING NOW

1

Inflation slows in May, with consumer prices up 3.3% from a year ago

2

Dow jumps 300 points, S&P 500 hits record on cool inflation data as Fed decision looms

3

Big Oil given stark warning as peak crude and a major supply surplus expected by 2030

4

Fed meeting and inflation report both hit Wednesday, and the impact could be huge

5

Hungary agrees not to veto NATO's deepening support for Ukraine in exchange for non-participation

View the full site

© 2024 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

Data is a real time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stocks, Quotes, and Market Data, and Analysis.

Privacy Policy Do Not Sell My Personal Information CA Notice Terms of Service

Data also provided by

(http://www.autoadmit.com/thread.php?thread_id=5539775&forum_id=2Reputation#47739616)

and yea, just do exclude food and energy. ppl can just not eat and no one needs electricity, particularly during summer heat waves

(http://www.autoadmit.com/thread.php?thread_id=5539775&forum_id=2Reputation#47756242)