Business

Producer inflation came in below expectations in May in the United States

Producer Price Index (PPI) in the U.S. decreased by 0.2% on a monthly basis in May, rising by 2.2% annually, lower than expected.

The U.S. Department of Labor released PPI data for May.

Accordingly, PPI decreased by 0.2% in May compared to the previous month. Market expectations were for a 0.1% increase in producer prices on a monthly basis. PPI had increased by 0.5% in April.

Producer prices rose 2.2% annually in May. Producer inflation, expected to be 2.5% annually in May, was calculated at 2.3% in April.

Core PPI, which excludes volatile food and energy prices, showed no change on a monthly basis in May but increased by 2.3% annually. It was expected that core producer inflation would be 0.3% on a monthly basis and 2.4% annually.

Core producer prices had increased by 0.5% on a monthly basis and 2.5% annually in April.

PPI measures the prices of inputs used in production and provides clues about final product prices and headline inflation. The U.S. Federal Reserve monitors all inflation indicators, including PPI.

source: aa.com.tr/ prepared by Melisa Beğiç

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