The biggest takeaway of the week was the May CPI report, which showed clearly that overall inflation has cooled and that the details pointed toward softer readings going forward. The headline consumer price index climbed 0.1% to reach an annual rate of 4%, coming below expectations. This reflects the slowest pace of growth since March 2022, and it is 5.1% less than the 9.1% y/y peak of last June. The 3-month annualized rate slowed to 2.43%, with the 6-month and 9-month annualized rates of 3.25% and 3.66% respectively.
Follow us on: LinkedIn
By Hubert Marleau
