Surprise Dip In May Inflation Raises Hopes For Pause In Fed Rate Hikes
- 10 months ago
Inflation decelerated more than expected in May, bolstering investor optimism regarding the conclusion of Fed rate hikes.
The U.S. consumer price index (CPI) rose 4% year-on-year in May, down from 4.9% in April, according to figures released by the Bureau of Labor Statistics on Tuesday. The much-awaited inflation report came in slightly below the 4.1% average economist expectation and marks the lowest inflation reading since March 2021. Get the full details now on benzinga.com.
The U.S. consumer price index (CPI) rose 4% year-on-year in May, down from 4.9% in April, according to figures released by the Bureau of Labor Statistics on Tuesday. The much-awaited inflation report came in slightly below the 4.1% average economist expectation and marks the lowest inflation reading since March 2021. Get the full details now on benzinga.com.