US consumer inflation continued to cool last month, according to US government data published Wednesday, giving the Federal Reserve some positive news shortly before it announced its decision to hold interest rates at a 23-year high.
The annual consumer price index (CPI) came in at 3.3% in May, down 0.1 percentage point from April, the Labor Department said in a statement. This was slightly lower than the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal.
