Inflation cooled somewhat last month, that's according to new numbers from the Bureau of Labor Statistics,

the Consumer Price Index rose at an annual rate of 3.4 percent.

That's in line with expectations, but overall, inflation hasn't yet come down quite

to the levels that many people have been hoping for. Our economics correspondent, Paul

Solman has the story.

The latest CPI data.

Prices of goods and services did rise last month,

but at a slightly slower pace.

I think this is good news, particularly

because what the Federal Reserve generally looks at is core

CPI and that's down to 3.6% year on year which is actually the lowest level since April

2021.

Core C. P.

In other words, explains New York Universities Chris Conlan

everything but food and fuel prices.

One of the things that's been pushing up

CPI this month has been the increase in gasoline prices.

But we shouldn't necessarily be looking at that.

Yeah, I think there are a lot of reasons why gasoline prices tend to be volatile,

particularly this time of year, that have nothing to do with sort of overall inflation.

Crude prices are actually heading downward.

And food prices can be similarly jumpy for short-term reasons. In contrast to the longer-term

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