US inflation falls in May on dip in gasoline prices
US inflation falls in May on dip in gasoline prices
Washington - Arab Today
Falling gasoline prices drove US consumer prices lower in May, another sign that inflation remains tepid, the Labor Department reported Wednesday.
The Consumer Price Index, which tracks changes in the cost of household goods and services, declined 0.1 percent compared to April.
The news comes just hours before the Federal Reserve concludes its two-day monetary policy meeting and is widely expected to increase interest rates, despite weak inflation and tepid wage growth.
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