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An inflation index that is closely monitored by the Federal Reserve tumbled in May to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs.

WASHINGTON — Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year’s steady easing of inflation.

U.S. long-term inflation expectations unexpectedly accelerated in early May to a 12-year high and consumer sentiment soured, reflecting growing concerns about the economic outlook.

WASHINGTON — Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, a sign that declines in inflation are likely to be slow and bumpy.

The Federal Reserve reinforced its fight against high inflation May 3 by raising its key interest rate by a quarter-point to the highest level in 16 years.

WASHINGTON — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated in March, keeping the Fed on track to raise interest rates in May.

The U.S. economy slowed sharply from January to March, decelerating to a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced their inventories.

WASHINGTON — U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled with surging prices for nearly two years.

WASHINGTON — U.S. consumer price increases eased from January to February but still indicated elevated inflation, posing a challenge for the Federal Reserve's interest rate plans.

WASHINGTON — America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.