Research Brief: Inflation – May 2025
Headline CPI inches up in April amid notable trade policy shifts. Changes to consumer prices in April indicate that tariff-related costs increases have yet to pass through to households. During the month, the consumer price index for all items rose 0.2 percent, bringing the annual inflation rate to 2.3 percent. Core CPI, meanwhile, remained unchanged at 2.8 percent year over year. Underlying price pressures were relatively stable during the…