Inflation Levels Lower than Forecasted

The May CPI Report found that inflation rose by 2.4 percent year-over-year in May. This increase was lower than the expected 2.5 percent. This month’s lower-than-expected inflation numbers may be due to falling energy prices. Inflation remains above the targeted 2 percent level leading many economists to believe that the Federal Reserve will not change their target rate at the next Federal Open Markets Committee meeting.

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