US prices continued to rise in May amid Trump tariffs

Annualized inflation hit 2.4% in May, up from 2.3% in April, as Trump pushes ahead with controversial trade plans

US prices continued to rise in May as companies and consumers grappled with Donald Trump's tariffs. The president has repeatedly pledged to lower costs across the economy.

Annualized inflation ticked higher, to 2.4%, in May, up from 2.3% in April. On a month-to-month basis, the consumer price index rose by 0.1%, down from 0.2% the previous month.