Key inflation measure slows slightly, but remains uncomfortably high
CNN
A key inflation reading showed a glimmer of hope on Tuesday, revealing a slight slowdown in rising prices -- though they remain uncomfortably high.
The Producer Price Index, which measures wholesale prices before goods and services reach consumers, rose 10.8% in May compared to where it stood a year ago, according to data released Tuesday by the Bureau of Labor Statistics.
While that's down from the revised 10.9% rise reported in April's reading, it is still high by historical standards. The PPI had not recorded a double-digit increase in data going back to 2009 until this past December.
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