US Consumer Prices Rise Moderately; Tariffs Seen Fanning Inflation

U.S. consumer prices increased less than expected in May as cheaper gasoline partially offset higher rents, but inflation is expected to accelerate in the coming months on the back of the Trump administration's import tariffs.

The report from the Labor Department on Wednesday also showed underlying price pressures muted last month. Economists say inflation has been slow to respond to President Donald Trump's sweeping tariffs as most retailers are still selling merchandise accumulated before the import duties took effect.

Walmart last month said it would start...

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