India, June 11 -- 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. Economists had expected another 0.2 percent increase.
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 annual rate of consumer price growth was expected to speed up to 2.5 percent.
"Despite sticky inflation, tariffs have not yet showed up in consumer prices, but a lot depends on the absorption rate of U.S. companies and foreign suppliers," said Eric Teal, Chief Investment O...