Life is getting just a little less expensive!

Source: MGN Online

WASHINGTON (AP) - Consumer prices declined in May, reflecting a big drop in energy prices and smaller declines in a number of other areas. It was the second monthly decline in the past three months and underscored that inflation remains a no-show for the slow-growing U.S. economy.

The Labor Department said Wednesday that consumer prices edged down 0.1 percent last month following a small 0.2 percent increase in April. Prices had fallen 0.3 percent in March. In addition to a drop in energy costs last month, the price of clothing, airline fares and medical care also declined.

Core inflation, which excludes energy and food, rose a slight 0.1 percent in May.

The Federal Reserve was expected to boost a key interest rate Wednesday with officials viewing the recent slowdown in inflation as temporary.

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus