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U.S. Consumer Prices Inch Up 0.1% In May

A closely watched report released by the Labor Department on Wednesday showed a modest increase in U.S. consumer prices in the month of May.

The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.3 percent in April. The uptick in prices matched economist estimates.

Excluding food and energy prices, core consumer prices also edged up by 0.1 percent for the fourth consecutive month. Economists had expected core prices to rise by 0.2 percent.

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