Tariffs expected to lift underlying US consumer prices
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The number of Americans filing new applications for unemployment benefits held at an eight-month high last week, consistent with easing labor market conditions, while slowing domestic demand helped to restrain producer prices in May.
The Consumer Price Index increased by 2.4% in May compared to a year ago, according to the Bureau of Labor Statistics' latest data. The latest report shows ground beef continues to steadily increase.
The Tribune is tracking 11 everyday costs for Americans — eggs, milk, bread, bananas, oranges, tomatoes, chicken, ground beef, gasoline, electricity and natural gas — and how they are changing, or
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.
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Capital Market on MSNUS annual consumer price growth edges up to 2.4% in May compared to 2.3% in AprilThe US Labor Department showed a marginal increase by consumer prices in the US. The Labor Department said its consumer price index edged up by 0.1% in May after rising by 0.2%
U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild.
The agency, which also compiles the closely watched employment report, has been impacted by a hiring freeze imposed by President Donald Trump as part of an unprecedented campaign to drastically reduce the size of government through mass layoffs and spending cuts.