Goldman Sachs: Tariffs will have a moderate impact on May CPI, with core CPI inflation expected to reach 3.5% by the end of the year

BlockBeats news, on June 10th, Goldman Sachs economists said that tariffs may push up US commodity prices and overall inflation in the coming months, and it is expected that tariffs will have a moderate impact on the May CPI data released on Wednesday. The increase in commodity prices may cause the core inflation rate to rise by 0.05 percentage points, resulting in a 0.25% month on month increase in the overall core CPI inflation rate. But Goldman Sachs predicts that by the end of this year, the core CPI inflation rate may reach 3.5%, higher than the 2.8% in April. Although inflationary pressures in the labor market, housing rental, and automotive industries have decreased, this increase will still occur. Hotel prices and airfare prices will remain unchanged in May, reflecting a slowdown in the consumer economy. Our forecast reflects that inflation in most core commodity categories will accelerate significantly, but the impact on core service inflation will be limited, at least in the short term