US Inflation Slows to 2-Year Low as Energy Prices Continue Downward Trend

US Inflation Slows to 2-Year Low as Energy Prices Continue Downward Trend
A woman shops at a supermarket in New York City on Dec. 14, 2022. Yuki Iwamura/AFP via Getty Images
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The annual inflation rate slowed to 4 percent in May, down from 4.9 percent in April, according to the Bureau of Labor Statistics (BLS). This came in below the consensus estimate of 4.1 percent and represented the lowest level since March 2021.

On a month-over-month basis, the consumer price index (CPI) rose just 0.1 percent, down from 0.4 percent and below the market estimate of 0.2 percent.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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