US consumer prices climb for 11th month (AFP) – 3 hours agoSubmitted by DeMolay on Wed, 06/15/2011 - 13:45
WASHINGTON — US consumer prices rose for the 11th straight month in May but at a slower pace amid easing energy prices, official data showed Wednesday.
The consumer price index climbed a seasonally adjusted 0.2 percent, the Labor Department said. Year-on-year, prices were up 3.6 percent, chewing away at consumers' earnings.
Core inflation -- a key measure that excludes volatile fuel and food prices, and is watched by the Federal Reserve to set interest rates -- jumped by 0.3 percent in May from the previous month. That was the sharpest increase since July 2008.