US PPI down 0.2%; consumer inflation “on way” to Fed target

13 June 2024

 

Summary: US producer price index (PPI) down 0.2% in May, contrasts with expected increase; annual rate slows to 2.2%; “core” PPI flat over month, up 2.3% over year; Westpac: adds weight to notion US consumer inflation on way to 2.0%; US Treasury yields fall noticeably; rate-cut expectations firm; ANZ: rough estimate for May core PCE is 0.1%; services prices flat, goods prices down 0.8%. Around the end of 2018, the...

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