Inflation Slows Down in May 2024
CPI Report Due Out at 8:30 AM
WEB Forecasters expect inflation to slow down in May 2024 thanks to falling gas prices. The consumer price index or CPI report for June is due out at 8:30 am.
Consumer Price Index Rises 3.1% Year-over-Year
The consumer price index in the United States rose by 3.3% year-over-year to 314.07 points in May 2024 following a 0.3% increase in April. The Consumer Price Index rose 3 percent in June on an annual basis, a sharper slowdown in inflation.
What is the Consumer Price Index?
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a basket of goods and services.
Consumer Inflation Expectations Decline
US consumer inflation expectations for the year ahead declined to 3.2% in May 2024 from 3.3% in the previous month.
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