US Consumer Prices Show Signs of Steady Decline as Inflation Cools

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Written By Jennifer Joslyn

Consumer prices in the United States rose only 0.1% from April to May, indicating a continued easing of inflation. The year-over-year inflation rate slowed to 4%, the lowest figure in over two years, driven by falling gas prices and smaller increases in grocery prices. However, underlying inflation pressures remain high, with core prices rising 0.4% in May, the sixth consecutive month of sizable increases, and standing at 5.3% compared to the previous year, well above the Federal Reserve's target of 2%.

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Jennifer Joslyn
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