June 13, 2024 at 01:30PM
Prior was +2.2% y/y
PPI final demand -0.2% vs +0.1% expected
Prior was +0.5%
PPI ex food/energy +2.3% vs +2.4% y/y expected
PPI ex food/energy 0.0% vs +0.3% m/m expected
Prior ex food/energy +0.5%
The May decrease in final demand prices can be attributed to a 0.8% decline in the index for final demand goods, which was the largest decline since October. Energy fell 4.8% as gasoline prices fell 7.1%. Prices for final demand services were unchanged.
Fed funds futures are back to fully pricing in two cuts this year.
This article was written by Adam Button at www.forexlive.com.
US May PPI 2.2% y/y vs 2.5% expected