Consumer Prices Drop in May

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Consumer prices fell 0.1 percent in May, the first decline in 10 months, as energy prices retreated after a big run-up in the previous three months.


The Labor Department reported Wednesday that the decline in its closely watched Consumer Price Index followed big gains of 0.4 percent in February, 0.6 percent in March and 0.5 percent in April. Those increases had been driven by a surge in energy costs this year as crude oil prices hit all-time highs in early April. Analysts had expected a small 0.1 percent increase.


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