On Tuesday, the Bureau of Labor Statistics released its Consumer Price Index showing prices rose by 4.0% year-over-year in May, a slowdown from April’s yearly change of 4.9%. Drilling down to specific items, there are a couple of notable changes that greatly impact consumers.
One notable change from May’s CPI report is the price of eggs, which fell 0.4% year-over-year in May. Egg prices had risen as much as 70% from January 2022 to January 2023. The cost of a dozen eggs plunged 13.8% from April to May.Â
The biggest jump in inflation for the month of May was margarine. Prices rose 22.5% from the previous May.
The Federal Reserve is meeting today and tomorrow and policymakers are expected to leave its benchmark interest rate unchanged. The overall reading on consumer prices released Tuesday widely matched consensus of policymakers polled by The Wall Street Journal.
Check out a full list of items that the Bureau of Labor Statistics tracks below.
This story originally appeared on Marketwatch
