WASHINGTON—The Consumer Price Index rose 0.1% in May on a seasonally adjusted basis, following a 0.2% increase in April, the U.S. Bureau of Labor Statistics reported.
Over the past 12 months, the all-items index climbed 2.4% before seasonal adjustment.
"Inflation surprised to the downside again in May. Tariff impacts were nowhere to be seen as categories like apparel and used vehicles saw price declines during the month,” said America’s Credit Unions Chief Economist Curt Long. “The FOMC wants to see how tariffs will play out before acting, but the steady progression of low inflation readings combined with modest deceleration in the labor market means that pressure is mounting to ease rates. As consumers face an uncertain outlook, credit unions remain a stalwart financial partner, providing low-cost financial services to Main Street."