The newly released Consumer Price Index Report shows a slight decrease in prices as the Federal Reserve aims to get inflation under its 2 percent goal.
Six takeaways from the May 10 report:
- The CPI rose by 4.9 percent for the 12 months ending in April, a slower increase than the 5 percent CPI measure for March.
- Grocery prices fell by 0.2 percent.
- The energy index jumped by 0.6 percent.
- This is the 10th consecutive month that headline CPI has slumped.
- The cost of medical services declined by 0.1 percent compared to March.
- Medical care commodities posted unseasonally adjusted price changes of 0.5 percent compared to March.