CPI report shows that President Trump's whipsaw tariff policies have not had an outsized impact on inflation, but economists remain on guard.

Prices for toys, car parts and major appliances jumped in the US last month, but the overall impact of Donald Trump's new tariffs on consumers appeared to remain relatively muted. Overall inflation, the pace of price increases, picked up to 2.4% in May, rising from 2.3% in April, the Labor Department said.