U.S. inflation rises modestly in May, fueling political pressures on Fed

NEW YORK, June 11 (Xinhua) -- Inflation in the United States edged slightly higher in May, with the consumer price index (CPI) rising 2.4 percent on an annual basis, up from 2.3 percent in April, according to the data released by the Bureau of Labor Statistics on Wednesday.

The increase was just below economists' expectations of a 2.5 percent rise, based on a FactSet survey.