Inflation eases in May as consumer prices rise at slower than expected pace

Inflation eases in May as consumer prices rise at slower than expected pace
https://finance.yahoo.com/news/inflation-eases-in-may-as-consumer-prices-rise-at-slower-than-expected-pace-123413485.html

Summary

This is an article about inflation in the United States. It discusses consumer prices rising at a slower pace than expected in May 2024. The Consumer Price Index (CPI) increased 3.3% year-over-year in May, down from 3.4% in April. This is still higher than the Federal Reserve's 2% target. The Fed is expected to raise interest rates in September 2024.

Comment

Depending on whether inflation picks up and whether the Fed cuts interest rates, the second half of the year is likely to be a roller coaster ride for stocks.
Trend-wise, we should see inflation stabilize, but it could take quite a while to reach a point where it does.
The wisdom of the market is to treat this inflation as a constant, and more importantly, to look at the improvement in corporate earnings.