Washington — US consumer prices barely rose in May as a rebound in the cost of food was offset by cheaper petrol, pointing to moderate inflation that could increase pressure on the Federal Reserve to cut interest rates in 2019.
The US labour department said on Wednesday its consumer price index edged up 0.1% in May. The CPI gained 0.3% in April. In the 12 months to May, the CPI increased 1.8%, slowing from April's 1.9% gain. Economists polled by Reuters had forecast the CPI would rise 0.1% in May and 1.9% year on year...
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