Inflation in the United States slowed more than expected in May

The U.S. Bureau of Labor Statistics, U.S. The Bureau of Labor Statistics said on Wednesday that consumer price inflation in the United States eased to 4.0 percent year-over-year, the lowest since March 2021, from 4.9 percent in April. The May inflation figure of 4.1 percent was included in the average of analysts’ expectations.

On a monthly basis, the consumer price index rose by 0.1 percent instead of the 0.2 percent expected by analysts, following the 0.4 percent increase in April.

In May, energy prices fell by 11.7 percent year-on-year after the 5.1 percent decrease registered in April. It was the third month since January 2021 that U.S. energy prices fell on an annual basis. Within this, the price of gasoline decreased by 19.7 percent in the last 12 months, while the price of diesel fell by 37.0 percent on an annual basis, and that of natural gas decreased by 11.0 percent. In contrast, the price of electricity rose by 5.9 percent in the last 12 months.

The increase in food prices decreased to 6.7 percent in May from 7.7 percent in April.