Reported 2 days ago
In May, inflation rose by 2.4% year-over-year, slightly above April's 2.3%, primarily driven by increasing housing costs. Contrary to expectations, tariffs did not lead to widespread price increases in sectors like clothing and vehicles, which even saw price declines. Core inflation, excluding food and energy, remained unchanged at 2.8%. Economists suggest companies may be utilizing existing inventory to avoid immediate price hikes, indicating that any future inflation could be temporary.
Source: YAHOO