Consumer prices rose at a slower rate in May

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Marketplace

News, Business

4.8 • 1.3K Ratings

🗓️ 12 June 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

The consumer price index rose 3.3% in May; gas prices decline 9 cents in a week, AAA says; mortgage applications jump as interest rates dip; E.U. moves closer to hiking tariffs on Chinese electric vehicles.

Transcript

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0:00.0	Consumer prices rose at a slower rate in May.
0:05.0	I'm Novasafo with a marketplace minute.
0:08.0	Inflation is measured by the Consumer Price Index
0:11.0	eased up for the second month in a row. Prices rose at an annual rate of 3.3%
0:16.2	compared to 3.4% in April. Prices for gasoline, airline tickets, and new vehicles declined.
0:23.1	Prices for groceries, shelter, and medical care rose.
0:26.9	Gas prices are still falling.
0:28.7	The AAA says they're down 9 cents in a week.
0:31.4	Analysts say demand is lackluster and prices at the pump could keep falling this summer.
0:36.0	Mortgage applications jumped nearly 16% last week, as interest rates on home loans dipped.
0:42.0	The Mortgage Bankers Association
0:43.8	says many homeowners refinance existing loans.
0:48.0	The European Union today moved a step closer
0:50.0	to hiking tariffs on Chinese electric vehicles to as much as 38 percent. The U.S. has raised them to 100 percent. Both say China
0:58.3	is unfairly subsidizing its TV makers. I'm Nov Nova Sappo with a Marketplace minute.

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