US inflation rose less than expected to 2.4 per cent in May, signalling Donald Trump’s tariffs are so far putting only modest pressure on consumer prices.
Wednesday’s annual consumer price index figure was below the 2.5 per cent predicted by analysts surveyed by Bloomberg, but above the 2.3 per cent recorded in April.
The core measure, which strips out changes in food and energy prices, remained flat at 2.8 per cent, against expectations of a slight rise.
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