US May CPI rises 2.4% YoY, below Wall Street expectations

The United States' Consumer Price Index (CPI) for May rose 2.4% year-over-year.

According to a June 11 (local time) announcement by the US Department of Labor, the May US CPI climbed 2.4% YoY and 0.1% MoM. Both figures were slightly below Wall Street analysts’ forecasts (2.5%, 0.2%).

Core CPI, which excludes food and energy, also increased 2.8% YoY, falling short of Wall Street’s expectation of 2.9%. MoM, it rose by 0.1%, again below the estimate (0.3%). Core CPI is an indicator that excludes more volatile energy and food prices, providing insight into the underlying inflation trend.

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