US consumer prices climb for 11th month

US consumer prices rose for the 11th straight month in May but at a slower pace amid easing energy prices, official data showed Wednesday.

The consumer price index climbed a seasonally adjusted 0.2 percent, the Labor Department said. Year-on-year, prices were up 3.6 percent, chewing away at consumers' earnings.

Core inflation -- a key measure that excludes volatile fuel and food prices, and is watched by the Federal Reserve to set interest rates -- jumped by 0.3 percent in May from the previous month. That was the sharpest increase since July 2008.

But the core inflation figure, despite May's surge, remained 1.5 percent year on year, still well within the Federal Reserve's inflation comfort zone.

Read Full Article from AFP

- Posted: 2011-06-15 12:58:42

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