Despite warnings from US businesses about price increases due to President Trump’s tariffs, recent data indicate only a limited impact on inflation. The Consumer Price Index rose 2.4% in May compared to the previous year, slightly above April’s 2.3% increase. Core inflation remained steady at 2.8%. On a monthly basis, both overall and core measures rose 0.1%, below economist expectations. The Bureau of Labor Statistics’ data reflects the early effects of tariffs, which have changed repeatedly since the start of the trade war. Economists anticipate more pronounced price impacts as businesses pass higher costs to consumers over the summer.
— new from The New York Times
