2026-06-10T12:41:11.785Z / https://www.reuters.com/world/us/us-consumer-prices-increase-expected-may-2026-06-10/
华盛顿6月10日路透社电 — 受中东冲突推动能源产品价格飙升影响，美国5月消费者通胀率创下三年来最快增速，这为美联储将利率维持不变至2027年提供了更多依据。
美国劳工部周三公布的消费者物价指数（CPI）连续第三个月强劲上涨，凸显美国家庭面临的压力日益加大，他们越来越多地动用储蓄来支付开支。
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通胀连续第二个月超过工资涨幅，这可能拖累整体经济增长。生活成本飙升对唐纳德·特朗普总统及其共和党阵营面临政治不利因素，后者希望在11月的中期选举中保住国会控制权。特朗普在2024年总统大选获胜很大程度上得益于其降低通胀的承诺，但随着民众对其经济治理的不满加剧，他的支持率持续下滑。
“美国人正受到通胀的财务挤压，”海军联邦信贷联盟首席经济学家希瑟·隆说道，“现在不仅是对经济的负面情绪，还存在实际的财务压力，对中低收入家庭尤其如此。”
美国劳工部劳工统计局表示，截至5月的12个月内消费者物价指数上涨4.2%，为2023年4月以来的最大涨幅。4月该指数同比上涨3.8%。环比方面，5月物价上涨0.5%，4月涨幅为0.6%。通胀涨幅符合经济学家的预期。
美国央行以个人消费支出物价指数作为2%通胀目标为参考。所有通胀指标都远高于美联储的目标水平。
能源商品价格上涨3.9%，占月度CPI涨幅的60%以上。4月能源价格上涨3.8%。截至5月的12个月内，能源价格暴涨23.5%。汽油价格当月上涨7.0%，同比上涨40.5%。随着油价回落，加油站价格近期有所回落，经济学家们对此持谨慎乐观态度，认为5月可能是CPI通胀的峰值。
但美国和伊朗于周二展开了针锋相对的打击，特朗普总统周三表示，德黑兰在谈判协议上花费了太长时间，现在“必须付出代价”。伊朗表示将重新评估与华盛顿的外交接触。
上月的通胀还受到租金上涨的推动。尽管食品价格涨幅在4月加速上涨后有所放缓，但由于这场已持续四个月的战争推高了化肥成本，通胀上行风险依然存在。食品杂货价格仅微涨0.1%，非酒精饮料、谷物和烘焙产品以及水果和蔬菜价格的上涨部分被肉类和乳制品价格的下跌抵消。
租金仍处于高位
扣除波动较大的食品和能源成分后，5月核心CPI同比上涨2.9%，4月涨幅为2.8%。所谓的核心CPI环比上涨0.2%，4月涨幅为0.4%。月度核心CPI增速放缓主要反映在机动车保险价格下跌1.7%，为2020年10月以来的最大跌幅。
租金上涨0.4%，4月涨幅为0.5%。租金指标受到4月的一次性调整推高，此前去年的政府停摆导致数据收集工作中断。经济学家曾预计这些影响将在5月消退。
美元兑一篮子货币小幅下跌。美国国债收益率小幅走高。
CPI报告发布前，上周有消息称，5月美国经济连续第三个月实现超出预期的就业增长。失业率连续第三个月维持在4.3%。尽管金融市场已开始计价加息，但经济学家仍认为美联储收紧货币政策的门槛较高。
预计美联储将在下周的会议上将基准利率维持在3.50%-3.75%区间。
“随着伊朗危机延续至6月，我们已经开始看到消费者价格的多个类别受到更广泛影响，”LPL Financial首席经济学家杰弗里·罗奇表示，“如果霍尔木兹海峡的中断持续到劳动节周末，我们预计能源冲击将影响更多行业，并加剧货币政策未来路径的不确定性。”
露西娅·穆蒂卡尼 华盛顿报道；奇祖·野间和安德里亚·里奇 编辑
US consumer inflation posts largest increase in three years in May
2026-06-10T12:41:11.785Z / https://www.reuters.com/world/us/us-consumer-prices-increase-expected-may-2026-06-10/
WASHINGTON, June 10 (Reuters) – U.S. consumer inflation increased at its fastest pace in three years in May, boosted by surging prices for energy products amid the Middle East conflict, and giving more ammunition for the Federal Reserve to keep interest rates unchanged into 2027.
The third straight month of strong increases in the Consumer Price Index reported by the Labor Department on Wednesday underscored the mounting pressure on households, who are increasingly tapping their savings to fund spending.
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Inflation outpaced wage growth for a second consecutive month, which could weigh on overall economic growth. The soaring cost of living is a political liability for President Donald Trump and his Republican Party, seeking to retain control of Congress in the midterm elections in November. Trump won the 2024 presidential election in large part because of his promise to lower inflation, but has seen his approval rating tumble as frustration mounts over his handling of the economy.
“Americans are getting squeezed financially by inflation,” said Heather Long, chief economist at Navy Federal Credit Union. “It’s not just bad vibes about the economy now; there are real financial pressures, especially on middle-class and lower-income households.”
The Consumer Price Index increased 4.2% in the 12 months through May, the largest gain since April 2023, the Labor Department’s Bureau of Labor Statistics said. The CPI advanced 3.8% year-on-year in April. Prices increased 0.5% over the month after climbing 0.6% in April. The rise in inflation was in line with economists’ expectations.
The U.S. central bank tracks the Personal Consumption Expenditures Price Indexes for its 2% inflation target. All inflation measures are running well above the Fed’s target.
A 3.9% jump in the prices of energy goods accounted for more than 60% of the rise in the monthly CPI. Energy prices rose 3.8% in April. They vaulted 23.5% in the 12 months through May. Gasoline prices accelerated 7.0% over the month and were up 40.5% from a year ago. Prices at the pump have retreated in recent weeks as oil prices eased, raising cautious optimism among economists that May could be the peak in CPI inflation.
But the U.S. and Iran engaged in tit-for-tat strikes on Tuesday, with President Donald Trump saying on Wednesday Tehran had taken too long to negotiate a deal and would now “have to pay the price.” Iran has said it would reassess diplomatic engagement with Washington.
Inflation last month was also lifted by higher rents. While food price growth slowed after accelerating in April, risks remained to the upside as the war, now in its fourth month, has raised the cost of fertilizers. Grocery prices edged up 0.1%, with increases in the prices of nonalcoholic beverages, cereals and bakery products as well as fruits and vegetables partially offset by decreases in the cost of meat and dairy products.
RENTS REMAIN ELEVATED
Excluding the volatile food and energy components, the CPI increased 2.9% year-on-year in May after rising 2.8% in April. The so-called core CPI gained 0.2% on a monthly basis after rising 0.4% in April. The slowdown in the monthly core CPI mostly reflected a 1.7% drop in motor vehicle insurance, the largest decline since October 2020.
Rents increased a solid 0.4% after rising 0.5% in April. Rent measures were boosted by a one-time adjustment in April after last year’s shutdown of the government prevented data collection. Economists had expected the effects to fade in May.
The dollar slipped against a basket of currencies. U.S. Treasury yields edged higher.
The CPI report followed news last week that the economy posted a third successive month of above-expectations job growth in May. The unemployment rate remained at 4.3% for a third consecutive month. Though financial markets have started pricing in a rate hike, economists continued to believe the bar remained high for the central bank to tighten monetary policy.
The Fed is expected to leave its benchmark overnight interest rate in the 3.50%-3.75% range at next week’s meeting.
“Now that the Iran crisis has extended into June, we have begun to see broader impacts across several categories of consumer prices,” said Jeffrey Roach, chief economist at LPL Financial. “If the Strait of Hormuz remains disrupted through the Labor Day weekend, we would expect the energy shock to affect additional sectors and heighten uncertainty about the future path of monetary policy.”
Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Andrea Ricci
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