Slower-Than-Expected Annual PPI Complicates The US Inflation Story
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US PPI grew by 0.8% m/m (10.8% y/y) in May, from 0.4% m/m (10.9%y/y) in April. The core measure firmed 0.5% m/m (8.3% y/y) from 0.2% m/m (8.6% y/y). Unlike the hotter-than-expected May CPI report, the PPI release was broadly in line with – and in some cases…
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