Consumer Price Index Rose 0.4% in May as Expected
The core number came in at a 0.1% rise. Economists were expecting 0.2%.
The
Consumer Price Index
rose 0.4% in May, in line with forecasts and a tick above April's 0.3% rise, the
Labor Department
reported this morning.
Energy prices accounted for much of the rise, jumping 3.1% on the month. The core number, which excludes food and energy prices, came out just below expectations, at a 0.1% rise. Economists were expecting 0.2%, on par with April's 0.2% growth.
The CPI measures prices of a fixed basket of goods such as food, shelter, transportation, utilities, medical care and the like.
Industrial Production
numbers were released before the opening bell at 9:15 a.m. EDT this morning.
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