Labor report: inflation muted, except for these two critical areas
The U.S. Labor Department said Wednesday that consumer prices barely rose in May. According to Reuters, moderate inflation together with a slowing economy could increase pressure on the Federal Reserve to cut interest rates this year. However, the Labor Department's report did show some pockets of inflation, with rents and healthcare costs rising solidly. That could buy the U.S. central bank some time before easing monetary policy.