Inflation moved up in May as Trump's tariffs threatened to filter into consumer prices, CPI report shows. Gasoline prices declined for fourth month

The Consumer Price Index rose 2.4 percent in May, from a year earlier, a reading that reflects only the initial impact of President Trump’s tariffs.

Consumer prices rose 2.4% over the year, and the month-over-month increase was lower than expected.

Americans have yet to feel any sting of inflation from the Trump tariffs when they go shopping. Now a new look at wholesale prices suggests the coast might be clear for a while longer.

A lot of durable goods sold to consumers are imported or contain imported components or materials subject to the new tariffs.

The inflation rate is inching higher, with Wall Street expecting tariffs to increase prices throughout the remainder of 2025.

Consumer prices showed little sign of tariff-related increases for the third month in a row, defying expectations of a significant rise in inflation tied to ongoing U.S. trade wars.

CPI report shows that President Trump's whipsaw tariff policies have not had an outsized impact on inflation, but economists remain on guard.

US inflation was much softer than expected in May with little evidence of tariff-induced price hikes so far. Click to read.