Voice of America - VOA News on Nostr: US inflation cooled in May in sign that price pressures may be easing ========== ...
US inflation cooled in May in sign that price pressures may be easing
==========
Inflation in the United States eased in May for a second straight month, with consumer prices excluding volatile food and energy costs rising 0.2% from April to May, the smallest increase since October. Core prices rose 3.4% from a year earlier, below last month's 3.6% increase. Overall inflation also slowed, with consumer prices unchanged from April to May. The Federal Reserve may be closer to cutting its benchmark interest rate from its 23-year peak if the trend continues. The Fed has kept its key rate unchanged for nearly a year after rapidly raising it in 2022 and 2023 to fight inflation. Persistently elevated inflation poses a challenge for the Fed, which raises interest rates to slow borrowing and spending. However, if rates are cut too soon, it risks reigniting inflation. Several Fed officials have said they need to see several consecutive months of lower inflation before considering rate cuts.
#UsInflation #PricePressures #FederalReserve #InterestRates
https://www.voanews.com/a/us-inflation-cooled-in-may-in-sign-that-price-pressures-may-be-easing-/7652925.html
==========
Inflation in the United States eased in May for a second straight month, with consumer prices excluding volatile food and energy costs rising 0.2% from April to May, the smallest increase since October. Core prices rose 3.4% from a year earlier, below last month's 3.6% increase. Overall inflation also slowed, with consumer prices unchanged from April to May. The Federal Reserve may be closer to cutting its benchmark interest rate from its 23-year peak if the trend continues. The Fed has kept its key rate unchanged for nearly a year after rapidly raising it in 2022 and 2023 to fight inflation. Persistently elevated inflation poses a challenge for the Fed, which raises interest rates to slow borrowing and spending. However, if rates are cut too soon, it risks reigniting inflation. Several Fed officials have said they need to see several consecutive months of lower inflation before considering rate cuts.
#UsInflation #PricePressures #FederalReserve #InterestRates
https://www.voanews.com/a/us-inflation-cooled-in-may-in-sign-that-price-pressures-may-be-easing-/7652925.html