In its report Thursday, the government said that core inflation, which excludes volatile energy and food costs, rose 0.7 per cent in May after an even bigger 0.9 per cent increase in April, and has risen 3.8 per cent over the past year.
In New York, the Dow Jones industrial average was up 19.10 points at 34,466.24.
That was viewed as a possible precursor to a new nuclear deal that would result in Iranian oil hitting the global supply and lowering prices.