The core Consumer Price Index (CPI) rose by 0.21% month-on-month in May, aligning closely with market expectations. This increase has pushed the annual core CPI rate to 2.9%, marking the first instance since December 2022 that the annual rate has surpassed the previous year's level. The data highlights ongoing inflationary pressures as observed by Nick Timiraos, often referred to as the "Fed whisperer."
May Core CPI Increases 0.21%, Annual Rate Hits 2.9%
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