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Friday, Apr 19, 2024

Consumer prices rise less than expected in May

WASHINGTON — Consumer prices rose less than expected in May and posted the steepest annual drop in 59 years, according to government data released today, fresh evidence that the recession is keeping inflation in check. Low prices will make it easier for the Federal Reserve at its meeting next week to keep a key short-term interest rate near zero, where it has been since December. Bond prices ticked up earlier this month on concerns that signs of an improving economy would force the Fed to raise rates later this year. For the full story click here

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