U.S. Consumer Prices Rise, Pointing To Firming Inflation Pressures

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U.S. Consumer Prices Rise, Pointing To Firming Inflation Pressures

by Wochit 0:44 mins

U.S. Consumer Prices Rise, Pointing To Firming Inflation Pressures

by Wochit 0:44 mins

U.S. consumer prices recorded their largest increase in more than a year in May as costs for a range of goods and services rose, pointing to a steady firming of inflation pressures. The Labor Department said on Tuesday its Consumer Price Index increased 0.4 percent last month, with food prices posting their biggest rise since August 2011. Still, the main inflation gauge watched by the Fed continues to run below the U.S. central bank's 2 percent target. Last month's increase in consumer prices was the largest since February 2013 and above economists' expectations for a 0.2 percent gain.

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