US consumers probably saw slightly faster inflation in May, notably for merchandise, as companies gradually pass along higher import duties. Prices of goods and services, excluding volatile food and energy costs, rose 0.3% in May, the most in four months, according to a Bloomberg survey of economists. In April, the so-called core consumer price index climbed 0.2%. The measure, which is regarded as a better indicator of underlying inflation, is seen accelerating for the first time this year — to 2.9% — on an annual basis, based on the median projection. Wednesday’s report, along with producer price data the following ... (full story)