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Update Economic USA Inflation CPI
After last month’s increase of 2.2% the consumer price index moderated this month and moved down to 1.9% when measured over the past 12 months. This is slightly higher than the 10-year average of 1.6% and lower than the Fed target of 2.0%. The move was created by a 0.1% drop in May that came about primarily due to reductions in energy overall, and specifically gasoline. Food was slightly up by 0.2%. Energy related products remain the major influence in fluctuations in the index while most other prices remain stable.