US PPI MoM for May 0.5% vs. 0.3% expected. YoY 3.1% vs. 2.8% expected

Author: Greg Michalowski | Category: News

US PPI data for May 2018


The US PPI data from May came out Higher than expected
  • PPI MoM 0.5% versus the 0.3% expected. Primark came in at 0.1%
  • EX food and energy 0.3% versus 0.2%
  • Ex food, energy, trade, 0.1% versus 0.2%
  • PPI YoY 3.1% versus 2.8%. Prior month 2.3%
  • PPI Ex food and energy YoY 2.4% versus 2.3%
  • Ex food, energy, trade 2.60% versus 2.5% last month
The numbers are hotter than expected and could be reflective of a pipeline of price increases for consumers down the road.  The FOMC is expected to increase rates by 0.25% to 1.75%-2.0% range at 1 PM ET today. 

US yields are a bit higher after the news with the two-year yield of 1.4 bps at 2.553% (up about 1 bp from earlier levels).

The USDJPY is only up about 5 or so pips.  So not much action in the forex market. 
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