Fuel prices push annual US consumer inflation to six-year high in May

Agence France-Presse

Posted at Jun 12 2018 09:20 PM

WASHINGTON - Sharp increases in the prices for gasoline, fuel oil, shelter and medical care helped send a key measure of annual US consumer inflation to a six-year high in May, according to new data Tuesday.

The Consumer Price Index, which tracks costs in household goods and services, rose 2.8 percent year-over-year, the highest since February 2012.

Compared to April, however, the index rose only 0.2 percent, undershooting analyst expectations.

The Federal Reserve later Tuesday is due to begin a two-day policy meeting which is widely expected to end with the second interest rate increase of the year.