That makes no sense.
Buying costlier U.S.-made goods over foreign goods would naturally boost inflation, quite apart from new tariff differences in price.
Meanwhile the core pce inflation rate in May 2025 year-over-year was 3.88% higher than it was in April, the 65% majority of which is services but still includes goods.
That's what the 0.1 point rise from 2.577% to 2.677% means.
The May 2025 rate is actually slightly higher than in May 2024, which means we've made no progress in the last year.
