U.S. Consumer Prices Rise 0.6%

The pace of inflation picked up in May when according to the government consumer prices rose 0.6% from April in the face of energy costs which rose 4.4% after having been stable in April. Food prices showed an increase of 0.3% in May after 0.9% increase in April.

The Labor Department said core inflation, which excludes the volatile food and energy sectors, gained 0.2%. Overall consumer prices had risen 0.2% in April, when the core figure rose 0.1%.

In annual terms inflation came to 4.2% in May and the core rate 2.3%.

Copyright Agence France-Presse, 2008