Inflation Slowed In May Even While Annual Gain Rose To 4.2%

Consumer prices rose sharply in May, with rising energy prices pushing the nation’s leading inflation gauge to the highest level in three years.

The consumer price index rose 0.5 percent in May compared with April, the Department of Labor said Wednesday. Compared with a year ago, prices are up 4.2 percent. Those increases were in line with expectations.

Core prices, a measure that excludes volatile food and energy prices, rose 0.2 percent compared with the previous month. For the year, core prices are up 2.9 percent. That compares with expectations of 0.3 percent for the month and 2.9 percent for the year.

The Labor Department said that the…

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