Inflation & Prices
US Inflation Report Offers a Break for Price-Weary Consumers
- May CPI showed prices of necessities, discretionary items fell
- ‘We see inflation pressures continuing to subside,’ Wells says
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US consumers, unaccustomed to falling prices for the past several years, were able to breathe a little bit easier last month as many necessities — from groceries to gasoline to car insurance — became cheaper.
Even many discretionary goods and services either showed slower price growth or actual declines in May from the prior month, the Bureau of Labor Statistics’ consumer price index showed Wednesday.