Before Wall Street takes the low reading on U.S. inflation in May at face value, investors and economists want to see the result of the producer-price index for May.

A months-long streak of cooler inflation trends continued in May, the Bureau of Labor Statistics said on Wednesday. Why it matters: Many economists project that President Trump's tariffs will reignite inflation this year,

Inflation is expected to accelerate in the coming months on the back of the Trump administration's import tariffs.