Inflation Just Hit 4.2%.
The Consumer Price Index (CPI) for May 2024 showed a 4.2% annual inflation rate, a decrease from the previous month's 4.9%. This slowdown is attributed to falling energy prices, particularly gasoline, which saw a 3.5% decrease. However, core inflation, excluding volatile food and energy sectors, remained elevated at 5.1%, indicating persistent price pressures in other areas of the economy. AI
