Consumer Price Index shows no increase in May
(NBC, KYMA/KECY) - The Consumer Price Index (CPI) remains unchanged in the month of May.
According to Wednesday's Labor Department report, the CPI held flat after rising 0.3% in April, but is up by 3.3% from a year ago.
The core CPI, excluding food and energy prices, increased, going up by 0.2% last month and 3.4% from a year earlier.
Experts say the report may be an indicator that inflation is normalizing.
On a monthly basis, inflation was at 0.0%, the lowest its been since July 2022.
Still, the Federal Reserve is expected to announce later Tuesday that, for now, rates will remain unchanged at the levels they've been at for approximately a year.
