WASHINGTON: US consumer inflation ticked up in May, in line with analyst expectations, government data showed Wednesday as President Donald Trump’s sweeping tariffs began to ripple through the world’s biggest economy.
The consumer price index (CPI) came in at 2.4 percent from a year ago, after a 2.3 percent reading in April, the Department of Labor said, with headline figures pulled down by energy prices.
All eyes were on US inflation data after Trump imposed a blanket 10 percent levy on imports from almost all trading partners in early April.
He also unveiled higher rates on dozens of economies including India and the European Union, although these have been suspended until early July. Trump also engaged in a tit-for-tat tariff escalation with China.
But analysts said it will take months for the duties to impact inflation, as businesses rushed to stockpile goods before Trump’s new tariffs kicked in -- and they are now still working their way through existing inventory.
Between April and May, CPI was up 0.1 percent, cooling from the rate in the prior month.
While housing prices climbed alongside food costs, energy prices edged down over the month, the report added.
Hence then, the article about us inflation edges up as trump tariffs flow through economy was published today ( ) and is available on Daily Sun ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( US inflation edges up as Trump tariffs flow through economy )
Also on site :
- Natural gas line rupture stops traffic on 5 Freeway in Castaic
- 30–35 terrorists on radar: Army steps up counterterror ops in J&K; intense vigil amid 'Chillai Kalan'
- No. 20 Virginia notches first 11-win season by beating 25th-ranked Missouri in the Gator Bowl