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  - WN.COM - Business - 28/Jun 02:53

Gloomy Americans cut back on spending as inflation ticks higher

WASHINGTON — A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans also cut back on their spending last month. Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, the Commerce Department said Friday. Excluding the volatile food and energy categories, core prices rose 2.7% from a year earlier, an increase from 2.6% the previous month. Both figures are modestly above the Federal Reserve’s 2% target. The Fed tracks core inflation because it typically provides a better guide to where inflation is headed. At the...

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wn.com - 27/Jun 15:30

A key inflation gauge rose last month and Americans cut back on spending. ......

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A key inflation gauge rose last month and Americans cut back on spending

wn.com - 27/Jun 15:30

A key inflation gauge rose last month and Americans cut back on spending. ......

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AP Business SummaryBrief at 9:40 a.m. EDT

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Key inflation gauge rose last month while Americans cut back on spending ......