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Inflation ticked slightly higher in May, rising 2.4%, in line with expectations, according to the U.S. Consumer Price Index released Wednesday.

Prices rose 0.1 percent for the month, according to the Bureau of Labor Statistics. The month-over-month increase is less than expected.

Prices for shelter rose 0.3% in May and was the primary factor in the monthly increase. Food prices increased 0.3% for the month as food at home and food away from home also rose 0.3% in May. Energy prices declined 1.0% in May as the gasoline index fell over the month.

So-called core prices, which are prices for goods other than food and energy, rose 0.1% in May. These prices rose 2.8% over the last 12 months.