Consumer prices rose at the slowest pace since April 2021 as inflation showed further signs of cooling in May, according to the latest data from the Bureau of Labor Statistics released Tuesday morning.
The Consumer Price Index (CPI) revealed headline inflation rose 0.1% over last month and 4% over the prior year in May, a slowdown from April's 0.4% month-over-month increase and 4.9% annual gain.
Both measures were roughly in line with economist forecasts of a 0.1% month-over-month increase and a 4.1% annual increase, according to data from Bloomberg.
Alexandra Canal | Yahoo