Consumer Prices Rose 0.2 Percent In May; Smallest Gain In Six Months
There was a 0.2 percent increase in consumer prices last month vs. April, the Bureau of Labor Statistics just reported.
And that's the smallest increase since November's 0.1 percent gain, BLS adds.
Inflation was kept in check in large part because of a 2 percent drop in gasoline costs. As The Associated Press writes:
"Gas prices reached a national average of $3.98 per gallon May 6, driven higher by overseas demand and turmoil in the Middle East. Since then, the average price has fallen to just under $3.70. That's still $1 higher than a year ago."