The annual inflation rate slowed to 4 percent in May, down from 4.9 percent in April, according to the Bureau of Labor Statistics (BLS). This came in below the consensus estimate of 4.1 percent and represented the lowest level in two years.
On a month-over-month basis, the consumer price index (CPI) rose just 0.1 percent, down from 0.4 percent and below the market estimate of 0.2 percent.
The core CPI slowed to 5.3 percent year-over-year, down from 5.5 percent in the previous month. This also matched economists’ expectations. Core inflation climbed 0.4 percent, unchanged from the previous month, and met the market projection. The monthly core CPI has risen 0.4 percent or more for six consecutive months….