U.S. Producer Price Index: May's Yearly Rise Misses Expectations, Monthly Decline Recorded | June 14, 2023

In May, the U.S. Bureau of Labor Statistics reported that the year-over-year Producer Price Index (PPI) for final demand grew by 1.1%, a downturn from April's 2.3% hike. This reading fell short of the anticipated market forecast of 1.5%.

Meanwhile, the Core PPI, which excludes volatile items such as food and energy, saw a 2.8% annual increase during the same period, narrowly missing the market projection of 2.9%. On a month-to-month basis, the PPI experienced a 0.3% decrease while the Core PPI saw a 0.2% rise. #PPI #FOMC #MarketUpdate