US producer price index rises 0.1 pct in May

JIUJIANG CHINA-March 17, 2018: workers operate CNC machines in a factory to manufacture fan steel mesh. Affected by the Sino US trade war, China's steel prices continue to rise. - Görsel
US producer price index rises 0.1 pct in May

The U.S. producer price index rose 0.1 percent in May on-month, according to the Bureau of Labor Statistics. The rise came in line with market expectations. Producer prices excluding food, energy and trade services rose 0.4 percent last month, matching April’s gain, the government said. The so-called core PPI increased 2.3 percent in the 12 months through May after rising 2.2 percent in April. U.S. President Donald Trump said on Twitter on Tuesday that dollar is at a disadvantage compared with other major currencies as central banks keep interest rates low. “The Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage,” Trump said, adding Federal Reserve doesn’t have “a clue.” Today we will be following consumer price index and core CPI. CPI is expected to be 0.1% on monthly basis and 1.9% on annual basis. Core CPI is expected to be 0.2% on monthly basis and 2.1% on annual basis.