The chart of the week examines the Consumer Price Index (CPI) report as of May 15th, 2024, which indicated a 0.3% change. The chart illustrates the month-over-month changes, revealing that although the rate of change has slowed since 2022, inflation is still on the rise, leading to higher prices. CPI reports include both month-over-month and year-over-year data. The Federal Reserve’s target for annual inflation, which typically garners more attention, is 2%, but reached 3.6% in May.

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