Americans get a little more relief from high prices

Consumer prices increased four percent year-over-year in May, the eleventh straight month that inflation has moderated, according to Labor Department data. Gas and grocery prices declined in May from the previous month, giving Americans some financial breathing room.

When Will Inflation End?

Fortunately for American consumers, data shows that inflation continues to slow into May of 2023, and the most critical areas of spending, grocery items, and gas, have steadied and slightly lowered across the nation. 

Gas has decreased by an average of 5.6% up to May, and is about 20% less than around the same time last year. With this semi-good news, it seems that the question, of when will inflation end, has been answered.

The most dramatic reduction in grocery prices came with a 13.8% discount on eggs as the industry continues its recovery from the recent bird-flu problem.

But Americans aren’t out of the fire yet, as rent prices continue to see an increase. Apparel had a slight price bump of 0.3%. Used cars are another sector that has actually gained an average 4.4% price increase.

There are also many stores still closing or are planning to close in 2023.

On the Federal Reserve side of things, meetings are still being held amidst aggressive interest-rate hikes, in hopes to bring down these rising rates. Some officials propose that rate increases be skipped in June, but will again be administered in July. While other experts hope that there are no more rate increases for the remainder of the year.

This mix of news has allowed stock prices to increase overall in a healthy showing.

Overall, the inflation rate has decreased since May 2022 and careful consideration is being given to CPI and PCE, as always. Hopefully, Americans won’t have to wonder, when will inflation end, soon enough.