U.S. CPI rises 2.4% year-over-year in May, slightly below forecast

The U.S. Consumer Price Index (CPI) rose 2.4% year-over-year in May, slightly below market expectations of 2.5%, according to data from the U.S. Bureau of Labor Statistics shared by Investing.com. On a monthly basis, CPI increased by 0.1%, falling short of the expected 0.2%. The core CPI, which excludes food and energy prices, climbed 2.8% year-over-year, in line with April and just below the forecast of 2.9%. Core CPI rose 0.1% month-over-month, also below the expected 0.3%.