US inflation rose 2.4% year-over-year in May.

WASHINGTON - This Wednesday, the U.S. Bureau of Labor Statistics (BLS) announced that the country's Consumer Price Index (CPI) rose 2.4% year-on-year in May, a tenth of a percentage point higher than in April, without reflecting a major impact from President Donald Trump 's new tariff policy.

Core inflation , which excludes volatile energy and food prices, rose 2.8%, below the expectations of analysts who had expected a greater impact from the tariffs announced by Trump in April.

CPI for all items rises 0.1% in May; shelter up #BLSData https://t.co/dJyJeKmvth

— BLS-Labor Statistics (@BLS_gov) June 11, 2025

Compared to the previous month, inflation rose by just 0.1% in both headline and core figures, both figures below expectations, which would allow the Federal Reserve to remain cautious about a possible interest rate cut despite pressure from the White House .

The housing index increased 0.3% in May, the largest impact on the overall increase in indicators in May, according to the BLS.

Food prices also rose 0.3% after a 0.1% drop the previous month, driven by a 1.1% rise in cereals and bakery products, along with a 0.3% increase in fruits and vegetables.

In contrast, prices for meat, poultry, fish, and eggs fell 0.4%, following a 2.7% decline in the price of eggs.

The energy index also declined 1%, after rising 0.7% in April, largely due to a 2.6% drop in gasoline prices.

Year-over-year, the energy index decreased by 3.5% compared to the same month in 2024, while the food index increased by 2.9% over the same period.

Health care, auto insurance, home furnishings, personal items, and education were among the indicators that increased in May.

Among the prices that decreased month over month were airfares, used cars and trucks, as well as new vehicles and clothing.

The Federal Reserve's Open Market Committee (Fed) will meet on June 17 and 18 to decide on interest rates, which have remained in a range of 4.25% to 4.5% since the December 2024 cut.

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