U.S. consumer prices barely rise; underlying inflation muted

World News: . []

U.S. consumer prices barely rise; underlying inflation mutedU.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy could increase pressure on the Federal Reserve to cut interest rates this year. The report from the Labor Department on Wednesday, however, showed some pockets of inflation, with rents and healthcare costs rising solidly, which could buy the U.S. central bank some time before easing monetary policy. Fed policymakers are scheduled to meet on June 18-19 against the backdrop of rising trade tensions, slowing growth and a sharp step-down in hiring in May that has led financial markets to price in at least two interest rate cuts by the end of 2019.

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