Headline Inflation Just Hit the Highest Level in 3 Years. Yet There's Plenty of Good News in the Report for New Fed Chair Kevin Warsh
While headline inflation is high, core inflation showed some signs of easing in the May Consumer Price Index report.
Overview
Year-over-year headline inflation hit 4.2% in May, the first time the Consumer Price Index (CPI) has topped 4% in three years.
But beneath the surface, the prices on several consumer goods and services declined, which is good news for Kevin Warsh as he kicks off his tenure as the new chair of the Federal Reserve’s influential Board of Governors.
Details
The CPI rose 0.5% in May from the prior month, putting both headline inflation and the monthly increase in line with economists’ estimates.
Source
Originally published at www.fool.com.
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