The rate of increase in producer prices in the USA is below expectations

The rate of increase in producer prices in the USA was below expectations and the previous month.

According to data from the US Department of Labor Bureau of Labor Statistics (BLS), the annual increase in producer prices in May decreased to 2.2% from 2.3% in the previous month. Analysts’ estimate was that the increase would be 2.5%.

In the same month, producer prices decreased by 0.2% compared to the previous month. Markets thought that prices, which increased by 0.5% in the previous month, would increase by 0.1%.

While core producer prices, calculated by excluding food and power prices, remained unchanged monthly, they increased by 2.3% annually. Analysts had stated that there would be a monthly increase of 0.3% and an annual increase of 2.4%.

Producer prices, excluding food, power and trade, which are another core, remained unchanged monthly and increased by 3.2% annually.

While energy prices decreased by 4.8% monthly, the decrease in food prices was 0.1%.

The producer price increase in personal consumption products decreased by 0.1%.

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