US consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy.
US consumer prices rebounded less than expected in April as rising costs for gasoline and rental accommodation were tempered by a moderation in healthcare prices.
U.S. stock index futures were flat on Thursday after three days of oil-powered gains on Wall Street as investors waited for the latest reading on U.S. consumer prices.
CPI slipped 0.1% last month, the first and largest drop since May 2017, after climbing 0.2% in February, the Labor Dept said.
Wall Street’s main indexes rose as fears of faster interest rate hikes eased after a tepid US consumer prices data and investors shrugged off news of Tillerson’s ouster.
US consumer prices cooled in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation.
US consumer prices increased in Jan, with a gauge of underlying inflation posting largest gain in 12 mths, bolstering views that price pressures will accelerate this yr.
The Labor Department said its Consumer Price Index increased 0.5% last month as households paid more for gasoline, rental accommodation and healthcare.
US consumer prices likely increased solidly in Jan, boosted by rising gasoline and rent, but annual inflation growth is expected to have slowed as the large price gains.
The Labor Department said its Consumer Price Index excluding the volatile food and energy components rose 0.3 percent last month.
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