Analyst Marte said a CPI print matching expectations would mark a second
consecutive months of price gains outpacing wages, further denting already‑weak
consumer sentiment. Average hourly earnings rose 3.4% YoY in May, the slowest
pace since 2021. Consumers face higher gasoline, grocery and other goods prices.
A New York Fed survey shows jobseekers’ outlook has deteriorated: a growing share
fear they will be unemployed within a year and subjective odds of finding
another job fell in May.
