US Stock Indexes Rise as Inflation Eases Slightly in May

Major US stock indexes saw gains during Wednesday’s premarket session following the latest consumer price index (CPI) report. Annual inflation in the US for May was recorded at 3.3%, a slight decrease from 3.4% in April, exceeding market expectations. According to the Bureau of Labor Statistics, the CPI remained unchanged on a monthly basis. The report detailed a 0.4% increase in shelter costs, a 0.1% rise in food prices, and a 2% drop in energy costs.