This Week in Business

A look at some of the key business events and economic indicators upcoming this week:

Inflation easing

The Labor Department releases its May snapshot of inflation at the consumer level Tuesday.

While inflation remains painfully high, it has eased in recent months as the Federal Reserve pressed its interest rate-hiking campaign. Economists project the May reading will show inflation at the consumer level eased to 4.2%, down fr om April's pace.

Consumer price index, annual percent change, not seasonally adjusted:

Dec.: 6.5

Jan.: 6.4

Feb.: 6.0

March: 5.0

April: 4.9

May (est): 4.2

Source: FactSet

Fed pause ahead?

The Federal Reserve delivers its latest update on interest rates Wednesday.

The central bank is widely expected to hold its benchmark interest rate steady at between 5% and 5.25%. It has raised rates 10 straight times in order to get to that level in an effort to curb inflation. Wall Street is closely monitoring the central bank for clues about future interest rate policy as the economy slows and recession concerns grow.

Retail sales update

The Commerce Department on Thursday releases retail sales data for May.

Analysts expect that sales slid 0.1% last month from a modest gain of 0.4% in April. Consumers have become more cautious after a burst of spending earlier in the year. Inflation has been easing, but it remains high. The squeeze on consumers' wallets from inflation has added to worries that a recession may be on the horizon.

Retail sales, monthly percent change, seasonally adjusted:

Dec.: -0.7

Jan.: 2.8

Feb.: -0.7

March: -0.7

April: 0.4

May (est): -0.1

Source: FactSet.