REUTERS/Kaylee Greenlee BealNEW YORK, June 6 (Reuters) - Supply chain pressures cooled again in May, New York Fed data showed, in a development that further eased what had been one of the key factors that had helped drive surging inflation pressures around the work. The New York Fed said on Tuesday that its latest Global Supply Chain Pressure Index stood at -1.71, from the revised -1.35 for April. The report said supply chain pressures were below average in all regions of the world considered in the index. After peaking in December 2021 at a reading of 4.31, the New York Fed index has been steadily retreating as supply chain kinks generated by the coronavirus pandemic have gotten worked out. Supply chain pressures had been a key factor in pushing up inflation, which in turn drove central banks like the Federal Reserve toward aggressive rate increases to bring price pressures back in line.

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Persons: Greenlee Beal, it's, Michael S, Andrea Ricci Organizations: San Antonio Shoe, REUTERS, , New York Fed, New York Fed, New, Fed, Federal Reserve, Thomson Locations: Del Rio , Texas, U.S, , New York, Great Britain, Taiwan