The inflation rate cooled in May to its lowest annual rate in more than two years.
Consumer Price Index (CPI) data released this morning raises hopes that The Federal Reserve's efforts to curb inflation are working.
February Consumer Price Index data revealed that inflation cooled in February, but still remains well above the Federal Reserve's 2% target.
Consumer price data released yesterday showed that it could be a long and winding road back to normal inflation levels.
Inflation closed out 2022 in a modest retreat, with the largest consumer prices decline in December since early in the pandemic.
Used cars are one of the few categories within the Consumer Price Index (CPI) that have decreased in price from last year. Still, they remain 33% more expensive than they'd be if normal depreciation were occurring.
U.S. consumer inflation eased in November to 7.1% annually, against 7.7% in October, and rose just 0.1% from the previous month, according to the Consumer Price Index.
The October Consumer Price Index (CPI) data raised hopes for investors that inflation has peaked.