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- U.S. inflation rose 0.4% in May
U.S. inflation rose 0.4% in May
The U.S. Labor
Department released the consumer price index. The index rose 0.4% in May,
exceeding expectations for a 0.2% gain, after a 0.3% increase in April. Food
prices had shown the biggest increase since August 2011.
On a yearly
basis, the U.S. consumer price index increased 2.1% in May, after a 2.0% gain
in April. That was the biggest rise since October 2012. Analysts had expected
the consumer price index to remain unchanged at 2.0%.
The U.S.
core consumer prices excluding food and energy climbed 0.3% in May, slightly
exceeding expectations for a 0.2% rise, after a 0.2% increase in April. On a yearly
basis, the U.S. core consumer prices increased 2.0% in May, after a 1.8% gain
in April. That was the fastest pace since February 2013.
The higher
inflation could weigh on Federal Reserve’s decision when to raise short-term
interest rates.
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