Consumer Prices Drop On Energy
From Wall Street Journal
U.S. consumer prices fell in May for the first time in two years as plunging gasoline costs offset increasing rents and more expensive medical care.
Separately, the number of U.S. workers filing initial applications for unemployment benefits rose last week, the latest sign of a weak labor market. Meanwhile, the U.S. current account deficit, a broad measure of U.S. international transactions, widened in the first quarter to its highest level in over three years, as rising oil prices helped drive up the trade gap.