U.S. Economic Indicators

Consumer prices rose 0.3% in April (up 2.0% from a year ago).  The “core” CPI, which excludes food and energy, increased 0.1% in April and is up 2.1% from twelve months ago. BLS Report

U.S. News

The Wall Street Journal reports that the U.S. increased tariffs on $200 billion of Chinese goods to 25% Friday morning as planned, mainly affecting capital and intermediate goods. President Trump also announced that the U.S. is taking steps to impose new 25% tariffs on an additional $325 billion worth of Chinese goods that are not currently taxed. WSJ

According to the Wall Street Journal, most private-sector economists surveyed in a recent WSJ study expect a tight labor market to improve U.S. wage growth over the next year. Worker scarcity, improving labor productivity, and muted inflationary pressures are boosting workers’ wages as companies compete for labor. WSJ