US CPI comes in cooler-than-expected in May

(Sharecast News) - US consumer price inflation increased slightly less than expected in May, according to the Bureau of Labor Statistics, up 0.1% month-on-month. While economists were calling for a bigger 0.2% month-on-month increase, May's reading of 321.47 points still marked a new all-time high.

The index for shelter was up 0.3% month-on-month, while the energy index declined 1% versus April.

On an annualised basis, inflation picked up for the first time in four months, hitting 2.4% in May, up from 2.3% in April, but below expectations of 2.5%. Core CPI, which strips out volatile food and energy prices, was 2.80% higher year-on-year.





Reporting by Iain Gilbert at Sharecast.com