THE AMERICA ONE NEWS
Jun 6, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
Forbes
Forbes
13 Jun 2023


Inflation eased last month to a multiyear low, a possible cause for optimism ahead of a crucial Federal Reserve meeting on interest rates.

May's Inflation Numbers To Be Reported Tuesday Ahead Of The Fed's Interest Rate Meeting

Shoppers have had to make some tough calls as prices surged over the last three years.

Getty Images

Consumer prices rose 4% in May year over year, the Labor Department said Tuesday, coming in slightly below consensus economist estimates of 4.1%.

That’s the lowest inflation rate since March 2021, when prices rose at 2.6% on an annual basis.

Still, inflation remains far above the Fed’s 2% goal, and the consumer price index is up 19% compared to May 2020.

Core inflation, which excludes historically volatile food and energy prices, rose 0.4% last month, in line with expectations of 0.4%.

The U.S. is amidst its most persistent stretch of inflation in nearly four decades due to pandemic-era supply chain snarls, Russia’s invasion of Ukraine’s impact on energy and commodity prices and soaring rent prices, among other factors. Inflation peaked at 9.1% a year ago, though the Federal Reserve’s dramatic interest rate bumps have slowed runaway prices.

Whether the Fed’s Open Market Committee will raise interest rates following the conclusion of its two-day meeting Wednesday. The futures market prices roughly an 80% chance the Fed will keep rates flat at 5% to 5.25%, according to CME Group’s FedWatch Tool. That would be the first time the Fed forgoes a rate hike since last January, when the federal funds rate sat at 0% to 0.25%— and inflation ran at 7.5%.

This is a breaking news story and will be updated…

Inflation Unexpectedly Ticks Down—But Prices Still Rose 4.9% In April (Forbes)

Federal Reserve Officials Divided Over Future Interest Rate Hikes, Minutes Show (Forbes)