Consumer price growth cooled again in May to the lowest level since March 2021, the Bureau of Labor Statistics reported Tuesday.
On an annual basis, price growth fell to 4%. Price growth climbed just 0.1% month-over-month.
The reading was slightly better than economists’ forecast of 4.1% — and down significantly from 4.9% rate in April. On a monthly basis, the forecast was for a 0.1% increase, lower than April’s 0.4% reading.
