Inflation moved up in May as Trump's tariffs threatened to filter into consumer prices, CPI report shows. Gasoline prices declined for fourth month

Consumer prices rose 2.4% over the year, and the month-over-month increase was lower than expected.

May's CPI inflation data was uneventful. Check out if underlying trends could signal a shift toward higher inflation or not.

Inflation ticked slightly higher in May, rising 2.4%, in line with expectations, according to the U.S. Consumer Price Index released Wednesday. Prices rose 0.1 percent for the month, according to the Bureau of Labor Statistics. The month-over-month increase is less than expected.

Inflation rose 2.4% year over year and 0.1% month over month in May. NBC News' Brian Cheung and Investopedia's Editor-in-Chief Caleb Silver break down the latest inflation numbers for the U.S.

Here are the key points to know ahead of this morning's consumer-price index for May: Year-over-year inflation is expected to pick up slightly from April to 2.4%, according to the consensus estimate.

PFIX can act as an interest rate hedge as inflationary expectations rise. Read more on why I am recommending PFIX with a Hold rating.

U.S. inflation picked up a bit last month as higher prices for groceries and some imported goods were largely offset by cheaper gas, travel services, and rents.

The number of Americans filing new applications for unemployment benefits held at an eight-month high last week, consistent with easing labor market conditions, while slowing domestic demand helped to restrain producer prices in May.