New Numbers Show Inflation Is Slowing

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A customer pumps gas at an Exxon gas station, Tuesday, May 10, 2022, in Miami. U.S consumers have so far defied higher prices for gas, food, and rent and have been spending more in 2022, providing crucial support to the economy. How long that can continue will be one of the key factors affecting the economy and inflation this year. (AP Photo/Marta Lavandier)
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New numbers show inflation is slowing a bit. The suggestion from many analysts is that maybe we are seeing the peak. The yearly rate of inflation fell to 8.3%–the first decline in eight months. Yesterday, President Biden said that he is making inflation his top domestic priority.

Click ▶️ to listen to AURN Washington Correspondent Ebony McMorris’s report: 

White House Correspondent Ebony McMorris is a native Washingtonian and University of South Carolina alumna. Her passion is mentoring young adults by teaching community empowerment and media education. She is an NAB member and board member of the Thurgood Marshall Center and was presented the President’s Lifetime Achievement Award for contributing more than 4,000 hours of community service under the Obama Administration.

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