The consumer price index increased 0.1% for the month of May, lower than economists' predictions, with the annual rate reaching 2.4%.

The U.S. stock market has rallied in recent weeks, recovering from a slump in April sparked by Trump's "Liberation Day" tariffs. At 11:24 a.m. ET, the Dow Jones Industrial Average rose 165.55 points, or 0.39%, to 43,032.42, the S&P 500 gained 16.18 points, or 0.27%, to 6,054.99 and the Nasdaq Composite gained 68.54 points, or 0.35%, to 19,783.53.

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

Inflation broadly held steady in May — and by some measures cooled unexpectedly — as price growth data showed few signs of President Donald Trump’s tariffs hitting the consumer economy

Discover May's inflation trends with insights from the Bureau of Labor Statistics. Click for my full review of the CPI data and a look at what it means for markets.

The S&P 500 and Nasdaq opened near record levels on Wednesday, as a cooler-than-expected inflation report calmed concerns around tariff-driven price pressures and fanned expectations for interest rate cuts.

The inflation rate is inching higher, with Wall Street expecting tariffs to increase prices throughout the remainder of 2025.

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.

Major equity indices, which had been hovering near all-time highs, pulled back as geopolitical risks surged back to the forefront.

Inflation rose less than expected in May, a month when the effects of higher tariffs were starting to become more widespread.

Argentina's monthly inflation rate slowed to its lowest level in more than five years in May, official data showed on Thursday, adding momentum to President Javier Milei's drive to rid the country of chronically soaring prices.

A lower-than-expected increase in inflation last month shows that the impact of the Trump administration's tariffs on the U.S. economy remains muted—but these numbers are far from convincing the Federal Reserve to cut interest rates,