Inflation is at 3.3%
According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) recorded zero inflation during May, lower than expected. The inflation rate over the last 12 months was 3.3%, a slight drop from 3.4% in April; however, a significant drop from 4.1% in the same period of last year. It should be noted that this doesn’t mean prices are dropping; we rarely see monthly inflation dropping below zero, that is, prices falling. Inflation measures the pace at which prices change.
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(Original air-date: 6/14/24)
