Consumer Prices in US Rise Less Than Forecast in May

US consumer prices increased marginally in May amid cheaper gasoline, but inflation is expected to accelerate in the coming months on the back of the Trump administration's import tariffs.

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WASHINGTON -

The Consumer Price Index (CPI) increased 0.1 per cent in May after rising 0.2 per cent in April, the Labour Department's Bureau of Labour Statistics said on June 11. In the 12 months through May, the CPI advanced 2.4 per cent after gaining 2.3 per cent in April.

Economists polled by Reuters had forecast the CPI climbing 0.2 per cent and increasing 2.5 per cent year on year.

Excluding the volatile food and energy components, the CPI gained 0.1 per cent, after rising 0.2 per cent in April. In the 12 months through May, the so-called core CPI inflation increased 2.8 per cent after rising 2.8 per cent in April.