The inflation rate in the US has fallen to 4% in May from 4.9% in April, the lowest inflation since March 2021, according to the Labor Department, CNBC reports.
Food prices were up 6.7% from a year ago, though eggs fell 13.8% in May, while gasoline prices have fallen 19.7% over the past year.
Excluding food and energy, the consumer price index (CPI) rose 0.4% on the month and is up 5.3% from a year ago.
