INFLATION SLOWS IN MAY, WITH CONSUMER PRICES UP 3.3% FROM A YEAR AGO

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy. The CPI, a broad inflation gauge that measures a basket of goods and services costs across the U.S. economy, held flat on the month though it increased 3.3% from a year ago, according to the department's Bureau of Labor Statistics.

Economists surveyed by Dow Jones had been looking for a 0.1% monthly gain and a 3.4% annual rate. Excluding volatile food and energy prices, core CPI increased 0.2% on the month and 3.4% from a year ago, compared with respective estimates of 0.3% and 3.5%.

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