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Economic Pulse: Week of 6/14/24

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.

Click here for the latest Lehigh Valley Economic Review.

Listen to Economic Pulse Fridays at 5:44 PM during All Things Considered; Mondays at 7:30 AM during Morning Edition.

(Original air-date: 6/14/24)

Dr. Kamran Afshar has a Ph.D. in Economics and has taught at graduate and under graduate levels between 1978-88. He has vast experience in economic impact studies, feasibility studies, customer satisfaction surveys, and scientific competitive analysis.
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