Inflation, consumer prices and Tariffs
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U.S. inflation saw a slight increase in May, with consumer prices rising 2.4% year-over-year, driven by higher food costs. Core prices, excluding food and energy, remained stubbornly high at 2.8% for the third consecutive month,
Energy declined 1% on the month, while new and used vehicle prices posted respective declines of 0.3% and 0.5%. Within energy, gasoline posted a 2.6% drop that took the year-over-
Inflation moved up in May as Trump's tariffs threatened to filter into consumer prices, CPI report shows. Gasoline prices declined for fourth month
Inflation rose less than expected in May, a month when the effects of higher tariffs were starting to become more widespread.
U.S. consumer prices rose less than expected in May, influenced by cheaper gasoline but restrained by mounting import tariffs. While the Federal Reserve is likely to maintain current interest rates, underlying price pressures remain.
The upcoming FOMC meeting on June 17-18 may increase pressure on Powell to consider a rate cut if the May inflation number decreases.
Both core and headline CPI came in below expectations, but economists say tariff risks and solid job growth leave the Fed in wait-and-see mode until fall.
Wall Street initially cheered soft inflation data and hopeful tariff news, but momentum stalled in late-day trading.
3don MSN
Blame stubbornly high mortgage rates and lingering economic anxieties over Trump policies for US housing-market gridlock.
U.S. consumer prices rose slightly in May, driven by housing costs and partially offset by cheaper gasoline. Inflation's future trajectory remains uncertain amidst President Trump's tariffs. The Federal Reserve plans to maintain current interest rates,