U.S. consumer prices climbed a paltry 0.1% in the month of May, smaller than the 0.4% increase the previous month as falling fuel and electricity prices eased inflationary pressure. The Consumer Price Index(CPI) increased 4.0% Y/Y, also an improvement from the previous month’s 4.9%Y/Y increase. Economists polled by Reuters had forecast at least a 0.
2% M/M CPI increase and a 4.1% gain on a year-on-year basis. Gasoline prices fell 5.6% while utility gas also cost less. However, food prices increased 0.2% in large part due to an increase…May Inflation Comes In Lower Than Expected
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