The upcoming inflation report will reveal if US companies are passing President Trump's tariff costs to consumers. Economists predict a slight increase in inflation, with the Consumer Price Index (CPI) expected to rise to 2.4% annually in May. While some businesses, like Walmart, have announced price increases, others are feeling the pressure of higher costs due to tariffs. The report's findings will show the extent to which tariffs are impacting prices, potentially delaying the full effect until July.

Prepared by Christopher Adams and reviewed by editorial team.