US EditionGloomy Americans Cut Back On Spending as Inflation Ticks Higher
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Gloomy Americans Cut Back On Spending as Inflation Ticks Higher
WASHINGTON (AP) — 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 mod…
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