US May CPI Edges Up, Trump Tariff Effects Yet to Fully Emerge

Jin10 News, June 11 – U.S. consumer prices saw a slight increase in May, mainly due to falling gasoline prices. However, with the Trump administration imposing additional tariffs on imports, inflation is expected to accelerate in the coming months. Data released Wednesday by the U.S. Department of Labor’s Bureau of Labor Statistics showed that the Consumer Price Index (CPI) rose 0.1% month-on-month in May, compared to a 0.2% increase in April. Year-on-year, the CPI rose 2.4%, slightly higher than April’s 2.3% increase, while the market had expected a 0.2% monthly rise and a 2.5% annual increase. Since most retailers are still selling goods stockpiled before the tariffs took effect, the full impact of President Trump’s comprehensive tariff hikes on inflation has yet to be fully reflected. Economists expect inflation to heat up in the second half of this year, with Walmart announcing last month that it would begin raising prices in late May and June. In the coming months, CPI data will also be closely watched for another reason. Last week, the Bureau of Labor Statistics, which is responsible for compiling several key economic reports including the closely watched employment report, announced that due to resource constraints, it will suspend CPI data collection in three cities. (Jin10 Data APP)