The "lag effect" of high interest rates is playing out marketplace.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketplace.org Daily Mail and Mail on Sunday newspapers.
The Consumer Price Index rose 3.3% on an annual basis in May and showed no change on a monthly basis, according to government data released Wednesday. The numbers beat analyst expectations, providing more evidence that inflation is easing its grip on the U.S. economy, albeit more slowly than most people would like to see. The core rate of inflation, which strips volatile food and fuel prices, rose 3.4% on an annual basis — the smallest increase since April 2021. On a monthly basis, core CPI rose