Inflation expected to have held steady in May
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The release of data on Wednesday will reveal the latest movement for consumer prices, which economists expect to have risen 3.4% over the year ending in May. Price increases have slowed significantly from a peak of about 9%, but inflation still stands more than a percentage point higher than the Federal Reserve's target rate of 2%. The Federal Reserve is expected to hold interest rates steady for the seventh consecutive time at the close of its meeting on Wednesday. Price increases have drawn attention from voters as the U.S. hurtles toward a closely contested presidential election in the fall, with 85% of U.S. adults considering inflation an important issue. Former President Donald Trump is trusted more than President Joe Biden on the economy and inflation by a margin of 14 percentage points.

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https://abcnews.go.com/Business/inflation-expected-held-steady/story?id=111012785