May 2015 US PPI final demand 0.5% vs 0.4% exp m/m

Details of the May 2015 US PPI final demand data report 12 June 2015

• Prior -0.4%
• -1.1% vs -1.1% exp y/y. Prior -1.3%
• Ex-food & energy 0.1% vs 0.1% exp m/m. Prior -0.2%
• 0.6% vs 0.7% exp y/y. Prior 0.8%
• Ex-food, energy & trade -0.1% vs 0.1% prior m/m
• 0.6% vs 0.7% prior y/y

Although the headline has posted its biggest gain since 2012 the ex numbers are soft or close to flat and that takes out any inflation risk. Food prices were higher after of chickens over bird flu saw the price of eggs rise over 50%.

US PPI y/y