US inflation up to 2.4pc in May, energy down

Spanish Market: Metals
11/06/25

US inflation ticked up to an annualized 2.4pc in May as core inflation remained unchanged, a sign US president Donald Trump's shifting tariff policies have yet to meaningfully impact prices.

The consumer price index rose from an annual 2.3pc in April, the Bureau of Labor Statistics reported Wednesday. Analysts surveyed by Trading Economics had forecast a gain of 2.5pc.

Core inflation, which strips out volatile food and energy prices, rose by 2.8pc over the 12-month period, unchanged from the prior month. The energy index contracted by 3.5pc for the 12 months compared with a 3.7pc contraction through April.

The CME's FedWatch tool shows 99.9pc probability the Federal Reserve will hold its target rate unchanged at 4.25-4.5pc at its meeting next week, compared with 97.3pc Tuesday, and as much as a 67pc chance of a likely cut in September. The Fed has said it will monitor the evolving impacts of Trump's tariff, fiscal and other policies on prices and the broader economy before resuming its course of rate cuts, on pause since December.

The food index rose by 2.9pc over the past year, quickening from 2.8pc in the 12 months through April.

Services less energy services, viewed as a core services measure, rose by 3.6pc in the 12 months through May, unchanged from April.

Gasoline fell by 12pc over the 12-month period through May while piped gas services rose by 15.3pc.

Shelter rose by an annual 3.9pc. New vehicles rose by an annual 0.4pc.

On a monthly basis, CPI rose by 0.1pc in May following a 0.2pc gain in April and a 0.1pc contraction in March. Shelter rose by 0.3pc for the month, leading the overall monthly gain.

By Bob Willis

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US inflation up to 2.4pc in May, energy down

Related news posts

CATL, BHP team up to spur mining electrification

CATL, BHP team up to spur mining electrification

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Brazil gov must boost EV demand: Li miners

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