Photo: A customer loads 2x4 wood boards onto a cart inside a Home Depot store in Livermore, California, on May 12, 2022. A customer loads 2×4 wood boards onto a cart inside a Home Depot store in Livermore, California, on May 12, 2022.

A key gauge of U.S. inflation rose last month by less than expected, and consumer spending stabilized, suggesting the Federal Reserve may be close to ending its most aggressive cycle of interest-rate hikes in decades.

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