May inflation data promising ahead of Fed interest rate decision 

The most recent report from the Bureau of Labor Statistics (BLS) shows inflationary decline in May, a positive omen as the Fed considers whether or not to continue its streak of interest rate hikes this year.

The monthly increase of inflation from April to May was just 0.1%, while the year-over-year increase from last May was 4% — well below April’s year-over-year increase of 4.9%. The Fed’s target is a 2% year-over-year increase.

The Fed is widely anticipated to consider a halt in its rate hikes for the time being, although core inflation data will also impact its decision.

The full BLS report is available online.