The producer price index (PPI) in the US surpassed the expectation in May with an increase of 0.4 percent on monthly basis.
The producer price index (PPI) in the US surpassed the expectation that it will increase by 0.4 percent on a monthly basis in May and will rise by 0.1 percent. The estimates of 58 experts participating in the Bloomberg survey ranged from minus 0.5 percent to 0.8 percent. PPI dropped 1.3 percent in April compared to the previous month.
According to data released by the US Bureau of Labor Statistics on Thursday, producer prices fell 0.8 percent in May compared to the same period of the previous year. The expectation was that there would be a 1.2 percent decline. Annual decline in the previous month was 1.2 percent.
Core producer inflation, excluding volatile food and energy prices, was in line with the expectation of minus 0.1 percent monthly. It rose 0.3 percent annually. The expectation was for a 0.4 percent increase.