Mumbai, June 12 -- A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May.
The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April.
Meanwhile, the report said the annual rate of consumer price growth accelerated to 2.4 percent in May from 2.3 percent in April.
The monthly uptick by consumer prices largely reflected a continued increase by shelter costs, which rose by 0.3 percent for the second straight month.
Food prices also climbed by 0.3 percent amid higher prices for both food at home and food away from home, while energy prices slumped by 1.0 percent amid a steep drop by gasolin...