Rates eased Wednesday following Consumer Price Index (CPI) data that indicated inflation is not a concern in the near-term. May CPI rose 0.1% from April, lower than the consensus forecast of 0.3%. Year-over-year, the CPI fell 1.3%, the largest annual decline since 1950. The core CPI, which excludes food and energy components, rose at a tame 1.8% annual rate. Investors are now looking ahead to next week’s FOMC meeting of the Federal Reserve. While no rate change is expected, much emphasis will be placed on the Fed’s statement regarding the timing of future rate moves and their plans for continued purchases of mortgage-backed securities.