Inflation steady at 2.4%.
According to the Bureau of Labor Statistics, the seasonally adjusted consumer price index (CPI) rose by 0.1% in May, resulting in an inflation of 2.4% over the last 12 months. It should be noted that a 12% drop in gasoline prices had a significant downward impact on inflation. However, gasoline prices are highly volatile, rising by 20% in one month and dropping by 13% in another, all within the same year, 2022. And we still predict a further decline in gasoline prices this fall.
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(Original air-date: 6/13/25)
