INSIGHTS Inflation Cooled in May as Consumers Welcome Relief By Staff Tuesday, June 18, 2024 9:00 AM “This is the best news we could’ve gotten this morning.”Philip T. Powell, executive director of the Indiana Business Research Center and clinical associate professor at the Indiana University Kelley School of Business, reacting to a Consumer Product Index report that showed inflation had slowed in the month of May. Read the CNN article, “Inflation Slowed in May, Hinting at Welcome Relief for Consumers.”