US annual consumer price growth edges up to 2.4% in May compared to 2.3% in April

The US Labor Department showed a marginal increase by consumer prices in the US. The Labor Department said its consumer price index edged up by 0.1% in May after rising by 0.2% in April. The annual rate of consumer price growth accelerated to 2.4% in May from 2.3% in April. Excluding food and energy prices, core consumer prices rose by 0.1% in May after edging up by 0.2 percent in April. The annual rate of core consumer price growth in May was unchanged from the previous month at 2.8%.

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