Inflation Continues but Slower  

U.S. consumer inflation continued to moderate in May. The Consumer Price Index (CPI) rose only 0.1% in May, after increasing 0.4% in April, according to the U.S. Bureau of Labor Statistics. The all-items index increased 4% for the 12 months ending May, down from 4.9 in May, the lowest 12-month increase since the period ending March 2021 and down significantly from the peak of 9.1% in June 2022.    

The index for shelter once again saw the largest increase, followed by an increase for used cars and trucks. The energy index declined 3.6% in May. Click here for the press release.