Cpi Report For May 2024. Inflation cooled more than expected in may, new data showed wednesday, delivering a welcome piece of news just hours before the federal reserve is set. The release boosted the likelihood of fed policymakers projecting two rate cuts for 2024 when they release their updated forecasts later.
Depending on underlying trends, that might increase speculation of two or more interest. The new report is a sign that inflation is cooling again after proving sticky early in 2024, and it could help to inform fed officials as they set out a future path for interest rates.