May U.S. inflation data expected to show higher prices
U.S. inflation data for May points to another hot CPI reading and rising prices See what energy costs and core inflation mean for markets before the report drops
U.S. inflation data for May is set to be released Wednesday morning, with economists expecting the consumer price index to rise 0.5% from the previous month and 4.2% from a year earlier.
The report is likely to show that energy costs remain a major driver of higher prices, while core inflation, which excludes food and energy, is also expected to stay elevated at 2.9% annually.
The article notes that concern is growing among investors and economists that inflation pressures may be spreading beyond energy into other parts of the economy. The Bureau of Labor Statistics will publish the CPI report at 8:30 a.m. ET.