US disinflation process resuming; CPI flat in May

12 June 2024

 

Summary: US CPI flat in May, less than expected; annual inflation rate slows from 3.4% to 3.3%; “core” rate up 0.2%, up 3.4% over year; ANZ: disinflation process resuming; Treasury yields fall noticeably; rate-cut expectations firm; energy prices main driver. The annual rate of US inflation as measured by changes in the consumer price index (CPI) halved from nearly 3% in the period from July 2018 to February 2019. It...

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