关税冲击下首份CPI答卷：华尔街预计5月核心通胀或创一年来最大环比涨幅

Group 1 - The May Consumer Price Index (CPI) is expected to show a slight increase in inflation from April, with an overall inflation rate projected to rise from 2.3% to 2.4% [1][4] - Core CPI, excluding volatile food and energy prices, is anticipated to increase to 2.9% year-on-year, up from 2.8% in April, with a month-on-month rise of 0.3% [1][4] - The report coincides with the impact of President Trump's tariff declarations, with existing tariffs on various goods, including a 30% effective rate on Chinese products [4][5] Group 2 - Economists from Wells Fargo expect the May CPI report to be a critical test of how tariffs are affecting consumer prices, predicting a moderate rise in overall and core inflation [4] - Goldman Sachs anticipates that future tariffs may exert greater upward pressure on monthly inflation, projecting a core CPI month-on-month increase of around 0.35% in the coming months [4] - Concerns have been raised about the uncertainty surrounding tariff policies, which may lead to delayed inflation effects and more chaotic market responses [5][6]