Investing.com - Consumer price inflation in the U.S. rose for the first time in three months in May, while prices excluding food and energy costs inched up modestly, official data showed on Tuesday.
In a report, the Bureau of Labor Statistics said that consumer prices rose by a seasonally adjusted 0.1% in May, compared to expectations for a 0.2% increase, after falling by 0.4% in April.
Year-over-year, consumer prices rose at an annualized rate of 1.4% last month, in line with expectations and up from 1.1% in April.
Consumer prices, excluding food and energy costs, rose 0.2% in May, matching expectations. Core consumer prices eased up 0.1% in April.
Core CPI increased at annualized rate of 1.7% last month, in line with forecasts and unchanged from April.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar added to losses against the euro, with EUR/USD rising 0.18% to trade at 1.3389.
Meanwhile, U.S. stock future indices held on to modest gains. The Dow Jones Industrial Average futures eased up 0.2%, S&P 500 futures pointed to a gain of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.2% at the open.
In a report, the Bureau of Labor Statistics said that consumer prices rose by a seasonally adjusted 0.1% in May, compared to expectations for a 0.2% increase, after falling by 0.4% in April.
Year-over-year, consumer prices rose at an annualized rate of 1.4% last month, in line with expectations and up from 1.1% in April.
Consumer prices, excluding food and energy costs, rose 0.2% in May, matching expectations. Core consumer prices eased up 0.1% in April.
Core CPI increased at annualized rate of 1.7% last month, in line with forecasts and unchanged from April.
Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories.
The central bank usually tries to aim for 2% core inflation or less.
Following the release of the data, the U.S. dollar added to losses against the euro, with EUR/USD rising 0.18% to trade at 1.3389.
Meanwhile, U.S. stock future indices held on to modest gains. The Dow Jones Industrial Average futures eased up 0.2%, S&P 500 futures pointed to a gain of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.2% at the open.