U.S. Inflation
Moderate in May
U.S. consumer prices rose slightly in May as gasoline prices remained subdued, but inflation is likely to pick up in the months as tariffs boost the cost of imported goods. The consumer price index CPI increased 0.1% last month after rising 0.2% in April, the Labor Department said on Wednesday. Economists polled by Reuters had forecast the CPI would rise 0.2%. Year on year, the CPI climbed 2.4%, vs a 2.3% rise in the 12 months through April. Excluding the volatile food and energy components, the CPI rose 0.1% after gaining 0.2% in April. The so-called "core" CPI inflation increased 2.8% on a year-on-year basis in May after rising 2.8% in April. Inflation data has been slow to reflect U.S. President Donald Trump's slew of tariffs as retailers are selling merchandise that was built up before the levies took effect.