US Inflation Accelerates in May, While Core CPI Softens

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US inflation accelerated in May 2024 with the consumer price index rising 4.2% year-over-year, the highest since early 2023. The core CPI excluding food and energy rose more modestly at 0.2% monthly and 2.9% annually, influenced in part by rising energy prices amid the Iran war.

US inflation accelerated in May with the Iran war pushing up energy prices, as the consumer price index climbed 4.2% from a year earlier, the most since early 2023. The core CPI, which excludes food and energy, increased 0.2% from April and 2.9% from a year earlier. Michael McKee breaks down the numbers on Bloomberg Television. (Source: Bloomberg)