Federal Reserve Report Shows Zero Inflation In May

CNBC reports:

An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years.

The core personal consumption expenditures price index increased just a seasonally adjusted 0.1% for the month and was up 2.6% from a year ago, the latter number down 0.2 percentage point from the April level, according to a Commerce Department report.

Both numbers were in line with the Dow Jones estimates. May marked the lowest annual rate since March 2021, which was the first time in this economic cycle that inflation topped the Federal Reserve’s 2% target.

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An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years.https://t.co/2xlLl1aOEY pic.twitter.com/pKoVuYlGIX

— CNBC (@CNBC) June 28, 2024

So by two different measures inflation was ZERO in May. The encouraging economic news just keeps coming. https://t.co/nanWyGdtm1

— Simon Rosenberg (@SimonWDC) June 28, 2024