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Investing.com -- U.S. Treasury yields dropped after new inflation data showed consumer prices rose at a slower pace than expected in May, easing concerns about tariff-driven inflation.
The Consumer Price Index (CPI) increased 0.1% in May, down from April’s 0.2% rise and below what economists had anticipated. The 12-month inflation rate came in at 2.4%, matching the Wall Street Journal consensus forecast and slightly up from April’s 2.3%.
Core CPI, which excludes volatile food and energy prices, remained steady at 2.8% year-over-year, below the 2.9% rate analysts had predicted.
Treasury yields fell sharply following the inflation report release. The benchmark 10-year Treasury yield declined to 4.445%, while the two-year Treasury yield dropped to 3.957%.
The softer inflation reading comes as the U.S. government prepares for a 10-year Treasury auction that market participants will watch closely for any signs of weakening demand.
In parallel developments, the U.S. government has highlighted a trade agreement with China, though specific details were not provided in the report.
The milder-than-expected inflation figures may ease concerns about potential price increases that some feared could result from tariff policies.
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