US CPI shows zero inflation in May

US CPI grew 0% in May as the yearly growth rate dropped to 3.27%, a further sign of decelerating inflation after the price increases sped up in Q1, according to the latest report from the Bureau of Labor Statistics.

Core inflation, which stripped out food and energy prices, rose 0.2% and the yearly rate decreased to 3.42%, lowest since April 2021.

The annualized three-month core CPI growth rate fell to 3.3%, from 4.1%.