Inflation likely rose in May, bouncing back after three months of declining as President Donald Trump's tariffs start to push up prices.

The latest Consumer Price Index report showed inflation rose slightly to 2.4%. Meanwhile, Trump said the U.S. and China have reached a trade framework. Follow along for live updates on the Dow, S&P 500,

Consumer prices in the US rose less than anticipated in May, with limited evidence so far that President Donald Trump's tariff measures have had a material impact on inflation.

This week's milder-than-expected data on producer\- and consumer-price indexes for May will enable the Federal Reserve to wait for more information on how ne

The consumer price index, a broad-based measure of goods and services across the sprawling U.S. economy, increased 0.1% for the month, putting the annual inflation rate at 2.4%. Economists surveyed by Dow Jones had been looking for respective readings of 0.2% and 2.4%.

Stock market futures were mostly calm on Thursday evening ahead of a key jobs report that is expected to shed light on the health of the U.S. economy. S&P 500 futures ticked down about 0.1%. Futures for the Dow Jones Industrial Average were up less than 0.1% while Nasdaq 100 futures shed 0.3%.

Inflation is expected to accelerate in the coming months on the back of the Trump administration's import tariffs.

The University of Michigan’s closely watched Surveys of Consumers showed across-the-board rebounds from previously dour readings.