Inflation remained stable last month, with consumer prices up 2.4% from a year ago, according to a report from the Labor Department. Prices rose just 0.1% between April and May, with falling gasoline prices offsetting rising costs of rent and groceries. Trump's tariffs may have impacted the prices of some goods, but overall goods prices held steady. The Federal Reserve is cautious about additional rate cuts due to the risk of tariffs rekindling inflation, despite persistent urging by the president. Grocery prices rose 0.3% in May, while higher electricity prices are expected to increase air conditioning bills this summer.
Source: https://www.npr.org/2025/06/11/nx-s1-5429597/inflation-tariffs-cpi-economy