US CPI data misses expectations

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US CPI data misses expectations

The Consumer Price Index for increased 0.1 percent in May on a seasonally adjusted basis after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported on Wednesday. On yearly basis, the all items index increased 1.8 percent before seasonal adjustment. According to the report, the food index rose 0.3 percent in May after declining in April, with the food index accounting for nearly half of the May seasonally adjusted all items monthly increase. “The energy index fell 0.6 percent in May, with the gasoline index falling 0.5 percent and the indexes for electricity and natural gas also declining in May,” the data said. The core CPI, which excludes volatile food and energy prices, stayed steady at 0.1 percent monthly but down to 2 percent on a yearly basis. Following the report, the dollar extended its losses.