Overview

• The Bureau of Labor Statistics reported a 0.1% increase in the Consumer Price Index for May, underperforming the 0.3% gain economists expected.
• The unadjusted annual CPI rate stands at 2.4% and core inflation excluding food and energy reached 2.8%.
• Shelter costs led the monthly rise with a 0.3% gain and food prices also climbed 0.3%.
• Energy prices dropped 1.0% in May, driven by a 2.6% fall in gasoline costs.
• Durable goods prices fell 0.1% and new car prices declined 0.3% for the second consecutive month as tariffs fail to fuel higher inflation and the Federal Reserve assesses its next rate move.