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Axios
Axios
Business

New report shows inflation cooling, but some prices remain high

Inflation Interest Rates
Data: Department of Labor; Chart: Axios Visuals

The consumer price index rose 4% in the 12 months through May, while the measure that strips out food and gas prices rose 5.3%, the Labor Department said Tuesday.

Why it matters: Inflation has decelerated, but remains uncomfortably high for economic policymakers — the latest sign the problem is not yet over.

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