Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S.A dollar banknotes
U.S. CPI inflation jumped 1.0% in May after rising 0.3% in April as gasoline prices rebounded, while core CPI rose 0.6%, same as the previous month. Both were more than market analysts expected. On a 12-month basis, CPI rose 8.6%, the most since December 1981, and core CPI rose 6.0%.
Headline CPI was boosted by energy and food prices. The energy index rose 3.9% from April as gasoline spiked 4.1%. The food index rose 1.2%, with food at home increasing 1.4%. The Core CPI was led by shelter costs, rising 0.6%, the most since March 2004, with owners' equivalent rent rising 0.6%. Airfares continued to rise by 12.6% in the month, slightly slower than in April. Used cars and trucks rebounded by 1.8% after falling in the previous three months.
The report will likely stoke inflation concerns at the Federal Reserve. Former Fed Governor Randall Kroszner told MNI the central bank will likely raise interest rates by a half point in the next three meetings to tame prices. (See: MNI INTERVIEW: Fed Set For Three 50BP Rate Hikes - Kroszner)
Source: BLS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.