Inflation Rate Below 5%
May 15, 2023
The U.S. inflation rate dipped below an annualized rate of 5% for the first time in two years. According to last week’s report from the Bureau of Labor Statistics, the Consumer Price Index rose 0.4 percent in April, an increase of 4.9 percent at an annualized rate. Inflation remains elevated compared to the Federal Reserve 2% target, but the pattern of moderation has analysts reporting that a pause in interest rate hikes could be ahead.
Consumer Price Index Summary | bls.gov
US Inflation Shows Signs of Moderating, Giving Fed Room to Pause | bloomberg.com