Consumer prices excluding volatile food and energy costs — the closely watched “core" index — rose 0.2% from April to May, the government said Wednesday. Measured from a year earlier, core prices rose 3.4%, below last month’s 3.6% increase and better than the 3.5% Wall Street was expecting. Virtually no one expects the Fed to move its main interest rate at its current meeting, which started Tuesday. The government reported Wednesday that producer prices rose 2.4% in May, as the yen's weakness against the U.S. dollar raises costs for imports of fuel and manufacturing components. At the same time, the latest data show real wages adjusted for inflation fell in April for the 25th straight month.

Source: Mint June 12, 2024 21:08 UTC