U.S. inflation eases in May as key Fed decision looms

Investing.com -- U.S. consumer prices increased by less than expected on an annualized basis in May, suggesting a possible easing in price pressures that could influence how Federal Reserve policymakers see the future path of interest rates.

The Labor Department's consumer price index rose by 3.3% last month, decelerating slightly from 3.4% in April. Economists had predicted that the figure would match April's rate.

Month-on-month, the reading slowed to 0.0% from 0.3%, cooler than expectations for an uptick of 0.1%.

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