12:30 PM EDT, 06/12/2024 (MT Newswires) -- US consumer inflation unexpectedly stalled in May on a sequential basis while dipping more than forecast at the annual level, government data showed Wednesday, just before the Federal Reserve's monetary policy committee was set to adjourn its June meeting. The consumer price index was flat last month, easing from a 0.3% increase in...

WASHINGTON, June 12 (Reuters) - The U.S. government recorded a $347 billion May budget deficit, up sharply from the $240 billion deficit a year earlier due to the pre-payment of some June benefits and higher outlays for interest, Social Security and defense, the Treasury Department said on Wednesday. The Treasury said outlays for May rose to $671 billion, a record...

(Reuters) - U.S. central bankers believe they'll cut interest rates just once this year, two fewer than they thought in March as inflation approaches their 2% goal more slowly than they had expected. That's according to the median of new economic projections published on Wednesday by the Federal Reserve at the end of their June 11-12 meeting along with the...

May’s inflation report was cooler than economists had predicted, boosting confidence in the Federal Reserve’s ability to steer the annual price index variation back toward its 2% target. The headline inflation rate decelerated to 3.3% year-over-year in May 2024, down from the previous and forecasted 3.4%. The flat monthly reading of the overall Consumer Price Index (CPI) basket is particularly...