Us Inflation Rate May 2024. Inflation declined to a 3.3% annual rate in may 2024, according to the consumer price index. The annual increase in consumer prices has slowed from a peak of 9.1% in june 2022.
Labor department data published on august 14, 2024. The annual rate of core inflation came down to 3.4%, the lowest since april 2021, aided by the smallest increase in housing costs in more than two years.