Core CPI climbs to 2.9% y/y, first uptick since December 2022

BlockBeats, June 10 — Nick Timiraos, often dubbed the Fed "whisperer", said May's core CPI rose 0.21% month over month, largely in line with expectations. The reading lifted the year-on-year core CPI rate to 2.9%, marking the first time since December 2022 that the annual core CPI rate has increased versus the prior year's level.