U.S. inflation picked up a bit last month as higher prices for groceries and some imported goods were largely offset by cheaper gas, travel services, and rents.

PFIX can act as an interest rate hedge as inflationary expectations rise. Read more on why I am recommending PFIX with a Hold rating.

Underlying US inflation rose in May by less than forecast for the fourth month in a row, suggesting companies are finding ways to limit how much of higher costs from tariffs they pass through to customers.

Here are the key points to know from this morning's consumer-price index for May: Year-over-year inflation picked up slightly, as expected, to 2.4%. For April, the [reading was 2.3%](

The economic vibes are improving, with consumers' inflation expectations falling last month for the first time in 2025. On Wednesday, CPI was also cool.

A lower-than-expected increase in inflation last month shows that the impact of the Trump administration's tariffs on the U.S. economy remains muted—but these numbers are far from convincing the Federal Reserve to cut interest rates, experts say.