A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease, the Associated Press reports.
Today’s Commerce Department report showed that consumer prices were flat from April to May, the mildest such performance in more than four years. Measured from a year earlier, prices rose 2.6% last month, slightly less than in April.
Excluding volatile food and energy prices, so-called “core” inflation rose 0.1% from April to May and 2.6% from 12 months earlier. Both figures were slight improvements on the previous month’s data.
