US inflation falls to 3.3 percent in May
Published: Wednesday, Jun 12th 2024, 15:01
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Inflation has fallen slightly in the USA. Consumer prices rose by 3.3 percent year-on-year in May, according to the US Department of Labor on Wednesday. In April, inflation was still at 3.4 percent.
The May figure for inflation was therefore slightly lower than expected. Economists had expected a rate of 3.4 percent.
This pleased investors hoping for interest rate cuts by central banks. On the Swiss stock exchange, the leading SMI index rose by 0.6 percent, having previously gained 0.3 percent.
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