Consumer inflation drops in US for the 11th month in a rowAFP, WASHINGTONConsumer inflation in the US cooled for an 11th straight month on an annual basis last month, the US Department of Labor said on Tuesday, in an encouraging sign for policymakers. US consumer inflation dropped annually for the 11th month in a row last month. Excluding the volatile food and energy components, consumer inflation was up 5.3 percent over the past 12 months. “CPI used vehicle prices will fall over the summer, likely starting as soon as June,” he said in a note. Meanwhile, new vehicle prices dipped on a monthly basis on improving supply and “softer demand in the face of tightening credit conditions,” he said.
