Inflation Slowing, But Still Climbing

Inflation in the United States has fallen to its lowest level since March 2021, the Bureau of Labor Statistics announced on Tuesday.

Consumer price growth dropped to 4 percent in May, slightly better than the 4.1 percent economists had predicted – and significantly better than April’s rate of 4.9 percent, according to the bureau. Among the industries experiencing the least amount of growth in May were air travel and medical services, which fell from April’s rate of 5.1 percent to 4.6 percent, the agency reports.

However, despite the overall drop, the price of food continued to climb, with groceries rising 5.8 percent and restaurant food increasing by 8.3 percent, per the Bureau of Labor Statistics