Summary Box: Falling gas prices slow inflation

AP News
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Posted: Jun 15, 2011 6:15 PM
Summary Box: Falling gas prices slow inflation

INFLATION COOLS: Consumer prices rose by the smallest amount in six months. Inflation slowed after energy prices fell for the first time in nearly a year.

CORE RISES: Excluding volatile food and energy, "core" prices rose by the most in nearly three years. Americans paid more for autos, clothes and hotel rooms in May. That limits the Federal Reserve's ability to take steps to stimulate the economy, for fear they would spur more inflation.

LIKELY TEMPORARY: Economists said the rise is mostly because of temporary factors, such as higher car prices due to supply disruptions from Japan.