US Supercore inflation soared to 5% in May, highest since April 2023, despite core CPI decline.

by
Sharing is Caring!

US Supercore inflation increased 5.0% year-over-year in May, its highest level since April 2023.

Supercore inflation is a key metric the Fed follows which includes core services inflation less shelter.

Over the last 8 months, it has seen a significant increase from ~3.8% in October.

This is despite core CPI inflation declining to 3.4% year-over-year from 3.6% in April and below estimates of 3.5%.

Overall, inflation has been above 3% for 38 straight months, the longest streak since the 1990s’ when it lasted for 54 months.

The fight against inflation is far from over.

See also  Food Inflation on the Rise
See also  Long-term Bitcoin holders sold; highest supply volumes since 2018 bottom. Over $1.1 billion liquidated from cryptocurrency market in 24 hours.

94 views