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Inflation cooled in May in a sign that price pressures may be easing

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Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed. The trend, if it holds, could move the Federal Reserve closer to cutting its benchmark interest rate from its 23-year peak.

<p>WASHINGTON — Inflation in the United States eased in May for a second straight month, a hopeful sign that a pickup in prices that occurred early this year may have passed.

</p><p>Fed officials are scrutinizing each month's inflation data to assess their progress in their fight against rising prices.

 

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