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The slowdown in U.S. inflation has been a trend rather than a blip, Chicago Fed president said. The top Fed official described the reversal in rental and other housing inflation as a negative surprise.

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Consumer prices cooled last month, rising just 0.1% from April to May and extending the past year's steady easing of inflation.

Last month consumer prices in the United States rose 0.1% from April to May extending the past years steady easing of inflation. The Tuesday announcement comes when the Federal Reserve begins a two-day meeting, still concerned that some measures of underlying price pressures remain high.

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.

Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past years steady easing of inflation. At the same time, some measures of underlying price pressures remained high.

Measured year over year, inflation slowed to just 4% in May — the lowest 12-month figure in over two years and well below April’s 4.9% annual rise. The pullback was

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. At the same time, some measures of underlying price pressures remained high.

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