Ekonomické zprávy
13.06.2024

U.S. PPI unexpectedly drops in May

The Labor Department announced on Thursday the U.S. producer-price index (PPI) fell 0.2 per cent m-o-m in May, following an unrevised 0.5 per cent m-o-m jump in April. This represented the steepest monthly decrease in PPI since October 2023 (-0.3 per cent m-o-m).

For the 12 months through May, the PPI surged by 2.2 per cent, slightly decelerating from an upwardly revised 2.3 per cent soar (from +2.2 per cent) in the previous month. This marked the first slowdown in annual producer price inflation in four months. 

Economists had expected the headline PPI would advance 0.1 per cent m-o-m and 2.5 per cent over the past 12 months.

According to the report, the May decline in the headline index was due to a 0.8-per cent m-o-m decrease in the index for final demand goods, which, in turn, was led by a 4.8 per cent m-o-m plunge in the index for final demand energy. Meanwhile, the index for final demand services was unchanged. m-o-m.

Excluding volatile prices for food and energy, the PPI was unchanged m-o-m but climbed 2.3 per cent over 12 months. Economists had forecast gains of 0.3 per cent m-o-m and 2.4 per cent y-o-y for May. In April, the core PPI posted a 0.5 per cent m-o-m increase and a 2.4 per cent y-o-y rise.

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