U.S. Consumer Prices Increase In Line With Estimates In May
(RTTNews) - A report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased in line with economist estimates in the month of May.
The Labor Department said its consumer price index rose by 0.5 percent in May after climbing by 0.6 percent in April. The price growth matched expectations.
The annual rate of consumer price growth accelerated to 4.2 percent in May from 3.8 percent in April, which was also in line with estimates.
The report also said core consumer prices, which exclude food and energy prices, crept up by 0.2 percent in May after rising by 0.4 percent in April. Economists had expected core prices to increase by 0.3 percent.
The annual rate of core consumer price growth inched up to 2.9 percent in May from 2.8 percent in April, which matched expectations.
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