Cheaper eggs, gas lead inflation lower in May, but higher prices pop up elsewhere

The falling price of gasoline and eggs took some of the sting out of inflation last month. But the overall cost of living is still climbing uncomfortably fast.

Consumer prices in May were up 4% from a year ago, according to a report from the Labor Department Tuesday. That was the smallest annual increase since March of 2021.

Prices rose 0.1% between April and May, a smaller increase than the month before. Rising rents and used car prices were partially offset by cheaper gasoline and electricity.