But in the price-tracking data, the evidence is much more uneven. April’s inflation reports — measuring consumer and producer prices — showed the early imprint of tariffs. Goods most exposed to the levies, like furniture and audio equipment, became more expensive.

Americans have yet to feel any sting of inflation from the Trump tariffs when they go shopping. Now a new look at wholesale prices suggests the coast might be clear for a while longer.

The latest Producer Price Index, a closely watched measurement of wholesale inflation, rose 0.1% in May, lifting the annual rate to 2.6%, according to Bureau of Labor Statistics data released Thursday.

Inflation moved up in May as Trump's tariffs threatened to filter into consumer prices, CPI report shows. Gasoline prices declined for fourth month

The British public's expectations for inflation in the coming 12 months cooled in May, according to a Bank of England survey on Friday ahead of its interest rates decision next week.

Overall, though, the trend for inflation has been a steady decline toward the Federal Reserve’s 2% annual target. The Fed, however, is not expected to change interest rates when it meets next week.

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.

German inflation eased to 2.1% in May, the federal statistics office said on Friday, confirming preliminary data.

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%](

For four months many economists have predicted that US inflation would reignite, in large part due to President Donald Trump’s trade war and the knock-on effects his tariffs would have on the economy.