Declining energy and food prices drive sharp drop in consumer prices in May
Food prices have risen 18% over two years and prices will stay elevated due to shrinking herd sizes, wage growth and other factors
Inflation falls to 8.7% largely because last year's energy spike has dropped out of the annual comparison
Rising rates, benchmark reform, commodity prices all affected activity
Latest economists' survey points to friendlier conditions this year
Supply chain issues, wage costs keep food prices high, even as inputs fall
Inflation, climate change, geopolitics will make food security a persistent challenge
Weaker energy prices lead inflation readings lower
Pullback in energy underpins softening price pressures
Declining energy prices eased inflationary pressure for the second straight month