U.S. CPI rose sharply increased risk of high inflation and low growth.

In the soaring energy prices and the impact of air freight, U.S. consumer prices rose sharply in May, indicating the U.S. economy is still faced with high inflation and low growth risks. .However, non-energy prices remain under good control, indicating that rising oil and food prices have not yet spread to the broader economy. .<P> Analysis, the data will make the Federal Reserve (Fed) officials are concerned that the overall high level of inflation may eventually strengthen inflation expectations; In addition, these data are likely to be on Wall Street, the first on the Fed to raise interest rates this summer or fall, the expected form .support. .</ P> <P> (http://finance.) 13, U.S. Department of Labor announced in May the consumer price index (CPI) increased by 0.6%, excluding food and energy prices, core CPI, including a 0.2% increase. .Economists surveyed by Dow Jones Newswires on the overall and core CPI in May was 0.5% expected and 0.2%. .</ P> <P> 5 月份 CPI rose by 4.2%, the highest increase since January of this year. .Core CPI rose by 2.3%. .Over the past three months, core CPI 1.8% annual rate increases. .</ P> <P> 5 in core CPI increase of slightly more than a year earlier speculation that the Fed 1.5% -2% comfort zone of the high end. .In addition, Fed by the value of the price index for core personal consumption expenditures (PCE) has been on the rise, in April over the same period increased by 2.1%, much closer to this range. .</ P> <P> in the past year, most of the time, officials in the formulation of monetary policy, the main consideration is the housing and credit market turmoil, rather than inflation; from last September to April of this year, Fed has been .cut its benchmark interest rate 3.25 percentage points, to 2 per cent. .However, concerns about inflation in recent weeks has been heating up, officials of the speech shows that they would avoid a serious decline in U.S. economic confidence rose, indicating that policy makers are shifting the focus to inflation, high oil prices and weak U.S. dollar up. .</ P> <P> Fed Chairman Ben Bernanke said in his speech earlier, the overall rate of inflation over the past four quarters on average of 3.5%, adding that this figure was significantly higher than the desired level of Fed. .He said the recent rise in energy prices inflation and inflation expectations increased upside risks. .He also said that although so far, raw material price increases passed on to other products, has been more limited extent, but can not guarantee that this trend will continue, and therefore need to be closely watched. .</ P> <P> observers say, based on Bernanke and other Fed officials in speeches, Fed will likely first policy meeting in August decided to raise interest rates. .Will be the last Fed policy meeting held on June 24-25, the market expects the Fed meeting on interest rates will remain unchanged. .</ P>.