The rate of inflation has slowed for the 11th consecutive month. It cooled to its lowest annual rate in about two years last month, according to the Labor Department.
The Consumer Price Index (CPI) fell 0.9 percent. It’s sitting at 4 percent year over year in the month ending in may.
Overall inflation is decelerating thanks to energy and food costs. Food commodity prices have dropped back to levels seen prior to Russia’s invasion of Ukraine.
The price of eggs fell nearly 14 percent compared to last month, the largest decrease in over 70 years.
However, inflation is proving to be sticky on the core side. In the 12 months through May, the core CPI climbed 5.3 percent.
NTD spoke with Mark Hamrick, senior economic analyst at Bankrate.com, for his thoughts.
