Despite the tariff policies of the Donald Trump administration, last month’s increase in U.S. consumer prices was not as high as experts had initially feared.
The U.S. Department of Labor announced on June 11 (local time) that the Consumer Price Index (CPI) for May rose by 2.4% compared to the same month last year. Compared to the previous month, it increased by 0.1%.
The year-over-year increase was in line with expert forecasts compiled by Dow Jones, while the month-over-month increase fell short of the expert forecast of 0.2%.
The core CPI, which excludes the volatile energy and food sectors, rose by 2.8% year-over-year and by 0.1% month-over-month, respectively.
The growth rate of the core index was below expert expectations both on a year-over-year and month-over-month basis.
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