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The Labor Department’s Consumer Price Index (CPI) headline and core inflation in May rose 0.1% and 0.4%, respectively, on a month-on-month basis. Economists polled by Reuters were expecting a rise of 0.2% and 0.4%, respectively.
On a year-on-year basis, the headline inflation jumped 4%, against expectations of a 4.1% rise, while core prices increased 5.3%, in line with expectations.
Traders bets rose for a pause in interest rate hike this week after the data.
At 8:33 a.m. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 11.25 points, or 0.26%, and Nasdaq 100 e-minis were up 89.75 points, or 0.61%.
