Consumer prices increased 2.4% in May compared with a year ago, according to a Labor Department report released Wednesday.

U.S. inflation likely picked up a bit last month as President Donald Trump's tariffs start to bite, but lower prices for gas and possibly for air fares and used cars may limit the overall increase.

“Without a spike in inflation,” said eToro equity analyst Bret Kenwell, “the Fed may have trouble defending its stance on interest rates, particularly as other central banks lower rates and as ...

Core consumer price inflation, which strips out volatile factors, was slightly below estimates, at 2.3% year-on-year — having ...