WASHINGTON: Consumer inflation in the United States cooled for an 11th straight month on an annual basis in May, the Labor Department said Tuesday, in an encouraging sign for policymakers. The figures came as Federal Reserve officials began a two-day policy meeting on the same day, and this could allow roo
WASHINGTON: Consumer inflation in the United States cooled for an 11th straight month on an annual basis in May, the Labor Department said Tuesday, in an encouraging sign for policymakers.
Government figures released on Tuesday show that the consumer price index , a key gauge of inflation, jumped 4.0 per cent from a year ago in May, in line with analyst expectations and down from 4.9 per cent in April. On a monthly basis, CPI rose 0.1 per cent in May, decelerating from 0.4 per cent in April, the Labor Department said.
But while there was a"leap" in used vehicle prices last month, this was probably the last of a response to an earlier surge in auction prices, said Ian Shepherdson of Pantheon Macroeconomics.
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