On the latest episode of The Inflation Brief, hosts Gregory Daco and Laura Rosner-Warburton welcome guest Claudia Sahm to analyze the May CPI report and the forces driving today’s inflation outlook. Together, they explore why inflation accelerated even as core price pressures remained relatively contained, examining the roles of energy prices, tariffs, and housing costs. Claudia shares new research on inflation breadth and discusses how AI-related investment and ongoing supply shocks may influence future price dynamics. The conversation concludes with a look ahead at the key economic data that could shape inflation, consumer spending, and the Federal Reserve’s policy decisions in the months to come.NABE is the premier professional association for business economists and others who use economics in the workplace. Since 1959, NABE has attracted the most prominent figures in economics, business, and academia to its membership with highly-regarded conferences, educational and career development offerings, industry surveys, and its unrivaled networking opportunities. Past presidents of NABE include former Chairman of the Board of Governors for the Federal Reserve System, Alan Greenspan, several former Federal Reserve Governors, and other senior business leaders.