U.S. Consumer Prices Rise More Than Expected In May

(RTTNews) - Consumer prices rose by more than expected in the month of May, according to a report released by the Labor Department on Tuesday, with the increase reflecting broad-based price growth.

The Labor Department said its consumer price index rose by 0.4 percent in May after climbing by 0.3 percent in April. Economists had expected the index to edge up by about 0.2 percent.

Core consumer prices, which exclude food and energy prices, increased by 0.3 percent in May after rising by 0.2 percent in the previous month. Core prices had also been expected to tick up by 0.2 percent.