Inflation Slows In May, Fed Holds Interest Rates Steady
Inflation Slowed in May According to the Consumer Price Index Out Today.
Inflation Slowed in May According to the Consumer Price Index Out Today.
By Daniel Baldwin April 18, 2024 (Views expressed by guest commentators may not reflect the views of OAN or its affiliates.)
Today, inflation rose again, surpassing expectations. The Bureau of Labor Statistics’ Consumer Price Index (CPI) underscores the ongoing challenge faced by the Federal Reserve in meeting its target goals of reducing inflation to 2%. Inflation increased by 3.5% compared to last March, marking a faster pace than February’s 3.2%.
NFIB said its Small Business Optimism Index fell 0.9 point to 88.5 last month, the lowest level since December 2012.
The latest Consumer Price Index report for February is in, showing an unexpected increase in annual inflation to 3.2 percent, exceeding analysts’ predictions of 3.15 and marking a notable increase from January’s figures.
In the latest economic update, our GDP, encompassing all the goods and services we produce, increased by 4.9% in Q3 this year, revised down from the initial 5.2%.
Inflation went up to 3.2% year-over-year, down from 3.7% in September.
In September, the inflation rate in the United States increased to 3.7%, surpassing economists’ forecasts, according to new data from the Bureau of Labor Statistics.
The Consumer Price Index report for January shows inflation cooled to 6.4% from a year ago. However, month-over-month, prices have risen by 0.5% compared to December.