Annual inflation hit the highest level in more than three years last month as prices across the economy rose at an even quicker pace, according to data released Thursday by the Commerce Department. Prices rose 4.1 percent over the past year and 0.7 percent in May alone, as measured by the personal consumption expenditures (PCE) [...]
Shoppers increased their spending in May as temperatures warmed and gasoline prices cooled
May's inflation rate was 0.5% higher than April's
The U.S. economy added 172,000 jobs in May, well above Dow Jones expectations of 80,000. The unemployment rate, meanwhile, held constant at 4.3%.
The unemployment rate for May remained at 4.3%.
The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, the first decline after three months of gains.
Forecasters warned that temperatures could climb to the highest level ever recorded in the month of May, reaching 35 degrees Celsius (95 degrees Fahrenheit) in some areas of England.
A snowstorm hitting the Rocky Mountains this week could end up being the biggest all season, forecasters said.
May is expected to feel like December in parts of Colorado as a significant snowstorm is forecast to hit the state on Tuesday.
The Eastern Pacific hurricane season officially starts May 15, while the Atlantic season begins June 1