US inflation stays muted, locking in Fed rate hold

Underlying US inflation rose in May by less than forecast for the fourth month in a row, suggesting companies are largely holding back on passing higher tariff costs through to consumers.

The consumer price index, excluding the often volatile food and energy categories, increased 0.1 per cent from April, according to Bureau of Labor Statistics data out Wednesday. From a year ago, it rose 2.8 per cent.

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Bloomberg