Economy

Inflation rises to 2.8 percent in May, fastest pace in six years

By Joseph Lawler
Published June 12, 2018 12:32pm ET
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Inflation rises to 2.8 percent in May, fastest pace in six years
A shopper looks over clothing. The Labor Department reports on U.S. consumer prices. | (AP Photo/Elaine Thompson)

Inflation rose to 2.8 percent in May, the Bureau of Labor Statistics reported Tuesday in the latest sign that the long-running economic recovery is maturing.

The 2.8 percent annual inflation rate, as measured by the Consumer Price Index, is the highest such mark since early 2012. Higher gas and housing costs helped drive the increase in May.

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Consumers Federal Reserve Inflation Interest Rates