by John Carney
Breitbart.com
Inflation took a breather in May, cooling to its lowest annual rate in over three years, according to key data eyed by the Federal Reserve.
The core personal consumption expenditures price index, which excludes food and energy prices, nudged up by a mere 0.1 percent last month. Annually, the index rose 2.6 percent, a slight dip from April’s 2.8 percent, the Commerce Department reported Friday. These figures matched estimates, marking the lowest annual inflation rate since March 2021, when inflation first exceeded the Fed’s 2 percent target.
When accounting for food and energy, headline inflation remained unchanged in May and also recorded a 2.6 percent year-over-year increase, aligning with market expectations.