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Inflation drops sharply to 3 percent, lowest point in more than 2 years
By Christopher Rugaber
US producer prices barely rise in June; core PPI subsides
By Lucia Mutikani & Paul Simao
Is America's inflationary fever breaking?
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Jason Furman
jasonfurman
Finally a pleasant surprise. Core CPI was 0.16% in May (2.0% annual rate). Headline was 0.01%. These are the best monthly readings since 8/21 & 7/22 respectively.
Good news but caution: just 1 print & some fluky items.
Core annual rate for 1/3/6/12 months:
2.0/3.3/3.7/3.4 pic.twitter.com/uFgX5XFYwz
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Council of Economic Advisers
WhiteHouseCEA
CPI inflation came in softer than expected in May. The headline CPI index was unchanged and the core index was up 0.2%, both 0.1 ppt lower than expectations. 1/ pic.twitter.com/Awyc5taDF9
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Charlie Bilello
charliebilello
The best data point in the May CPI report?
Lower food price inflation.
Food at Home (groceries): +1.0% YoY, tied for lowest reading since June 2021.
Food away from Home (restaurants): +3.4% YoY, lowest reading since July 2020.
creativeplanning.com/charlie/ pic.twitter.com/4n1nPIUzp4
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Charlie Bilello
charliebilello
The US Inflation Rate (CPI) has moved down from a peak of 9.1% in June 2022 to 3.3% today.
What's driving that decline?
Lower rates of inflation in Used Cars, Used Cars, Gas Utilities, Apparel, Food at Home, Gasoline, Medical Care, Fuel Oil, Food away from Home, Shelter, and… pic.twitter.com/5ggm44takf
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