Inflation falls for 11th straight month as Fed considers another interest rate hike

Inflation fell to 4% in May, the lowest rate since hitting a peak of 9.1% in June 2022. The welcome news may dissuade the Federal Reserve from raising interest rates for an 11th time. CBS News chief White House correspondent Nancy Cordes reports. Each weekday morning, "CBS Mornings” co-hosts Gayle King, Tony Dokoupil and Nate Burleson bring you the latest breaking news, smart conversation and in-depth feature reporting. "CBS Mornings" airs weekdays at 7 a.m. on CBS and stream it at 8 a.m. ET on the CBS News app. Subscribe to “CBS Mornings” on YouTube: https://www.youtube.com/CBSMornings Watch CBS News: http://cbsn.ws/1PlLpZ7c Download the CBS News app: http://cbsn.ws/1Xb1WC8 Follow "CBS Mornings" on Instagram: https://bit.ly/3A13OqA Like "CBS Mornings" on Facebook: https://bit.ly/3tpOx00 Follow "CBS Mornings" on Twitter: https://bit.ly/38QQp8B Subscribe to our newsletter: http://cbsn.ws/1RqHw7T​ Try Paramount+ free: https://bit.ly/2OiW1kZ For video licensing inquiries, contact: licensing@veritone.com