Check out the latest data that could help erase some inflation worries.
U.S. consumer prices rose at a slower-than-expected pace in May, despite higher gasoline costs. Also, consumer prices have fallen over the past 12 months by the most since 1950, according to new data from the Labor Department.
The Consumer Price Index edged up 0.1 percent in May after being flat in April, below market expectations for a 0.3 percent increase. Compared to the same period last year, consumer prices fell 1.3 percent, the largest decline since April 1950.
Which prices fell? Among the declines, apparel and food each fell 0.2 percent and tobacco (which was being advertised at this Hess station recently) fell 0.3 percent. Shoppers are paying more for items such as gasoline and prescription drugs.
Also in the basket:
Armani to unveil new women’s fragrance
Disney unveils kids’ laptops amid shopper thrift
Urban Farming, a Bit Closer to the Sun (New York Times)
(Reuters photo)
Trackback
