Inflation at Least 3% for 38th Straight Month in May – By Craig Bannister (CNS News) / June 12, 2024
Inflation was at least three percent for the 38th straight month in May and has now been at or above that mark, the U.S. Bureau of Labor Statistics (BLS) reported Wednesday.
In May, the Consumer Price Index (CPI) was up 3.3% from 12 months earlier and unchanged, on a seasonally-adjusted basis from April. The last time CPI increased less than three percent was in March of 2021 (2.6%).
At 3.3%, inflation is also more than the 1.4% growth registered when former President Donald Trump left office in January of 2021 and December of 2020.
In May of this year, the seasonally-adjusted, month-to-month increase in the so-called “core” CPI (excluding food and energy) rose 0.2% from April and 3.4% from the increase in April of 2023.
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