US CPI for May 0.2% vs. 0.2% expected. YoY 2.8% vs. 2.8% expected.
CPI ex food and energy 0.2% MoM and 2.2% YoY. As expected.
The US CPI came in spot on the expectations.
- The MoM came in at 0.2% vs 0.2% expected. The prior month remains at 0.2%
- The MoM ex food and energy came in at 0.2% vs 0.2% expected. The prior month rose 0.1%
- The YoY came in at 2.8% as expected. That is up form 2.5% last month. A -0.1% MoM gain in May 2017, was replaced by the 0.2% gain this year.
- The Ex food and energy rose 2.2% as expected. It was at 2.1% last month
- Real average earnings rose 0.3% vs 0.4% last month
- Real average hourly earnings YoY 0.0% vs 0.2% last month
- The YoY inflation is the highest since January 2012 when it was at 2.9% (and coming down).
The USDJPY moved up before the report to a NY high of 110.40. It has moved back down to 110.29 after the report.
The EURUSD moved lower to 1.1773 before the report, and has moved up to 1.1792 currently on the as expected readings.
Both the USDJPY and the EURUSD remain within the ranges for the day.