Key inflation measure held steady in May

YUMA, Ariz. (KYMA, KECY-TV/ CNN) - New economic data shows inflation doesn't appear ready to abate.

The Commerce Department reports the monthly personal consumption expenditures price index was 6.3% for the year that ended in May.

That's the same as the reading from April, but down slightly from March.

However, analysts say the fact that consumer prices held steady in may indicates inflation has remained flat despite the central bank's attempts to cool the U.S. economy.

This report comes less than a month after another inflation gauge the consumer price index showed year-over-year prices shot up by nearly 9%.