US inflation decreases by 0.1% as likelihood of a June Fed rate reduction lessens.

In May, inflation in the United States increased by only 0.1%, which is less than anticipated and diminishes discussions regarding a June interest rate reduction, based on data released by the Bureau of Labor Statistics on Wednesday.

The monthly number fell short of economists' expectations—0.2%—but the yearly rate matched the goal at 2.4%. Since January 2025, the overall inflation rate has increased for the first time, although the increase was slight.

Excluding food and energy costs, the core inflation figures reveal a comparable narrative. Core CPI increased by 0.1% for the month and now stands at 2.8% on an annual basis. Analysts had anticipated 0.3% and 2.9% instead.

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