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Economy

Inflation drops to 1.9 percent in May

By Joseph Lawler
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Inflation drops to 1.9 percent in May

Inflation dropped to a 1.9 percent annual rate in May, the Bureau of Labor Statistics reported Wednesday, in a sign that price pressures continue to ease in the U.S. even as the Federal Reserve is expected to continue tightening monetary policy later Wednesday.

May’s slowdown in inflation was bigger than expected. Private-sector forecasters had expected annual inflation to slip from 2.2 percent to 2 percent.

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