Inflation increased in May, but continues to moderate

Inflation rose just 0.1% in May, beating expectations.

Transcript

00:00Okay, so there's good news and bad news.

00:02The bad news is that inflation continues to rise.

00:05The good news is it also continues to moderate.

00:09Inflation rose less than expected in May,

00:11despite higher tariffs amid the ongoing trade war.

00:15The latest CPI report released by the Bureau of Labor Statistics

00:18showed consumer prices rose 0.1% last month,

00:22less than the 0.2% that was anticipated.

00:25The annual inflation rate rose to 2.4%, up from April's four-year low of 2.3%.

00:32The BLS says the main reasons for the overall increase were food and shelter,

00:37with both rising by a third of a percent.

00:40Egg prices actually dropped 2.7%,

00:42but are still 42% more expensive than they were a year ago.

00:47Meanwhile, energy prices dipped by 1%,

00:49and the price of gas fell by 2.6%, giving it a 12% year-over-year decrease.

00:55Vehicle and apparel prices also saw a decrease in May.

00:59That'll do for your daily briefing from the New York Stock Exchange.

01:02I'm Caroline Woods with The Street.