The May consumer price index rose 2.4% over the same period last year, less than the 2.5% expected by economists polled by FactSet. The COLA calculation is based on a subset of th

The U.S. dollar fell against the yen and euro after data showed underlying inflation in the world's largest economy rose less than expected last month, suggesting the Federal Reserve could cut interest rates sooner than later.

The Consumer Price Index rose 2.4 percent in May, from a year ago, a reading that reflects only the initial impact of President Trump’s tariffs.

A key government statistic shows rising costs for groceries and imported goods were muted by drops in categories like new cars and gas.

A months-long streak of cooler inflation trends continued in May, the Bureau of Labor Statistics said on Wednesday. Why it matters: Many economists project that President Trump's tariffs will reignite inflation this year,