US producer prices register unexpected drop in May

(Sharecast News) - Wholesale inflation in the US dipped somewhat unexpectedly last month. According to the Department of Labor, so-called final demand prices fell at a month-on-month pace of 0.2% in May (consensus: 0.1%).

In terms of annual rates of change, the producer price index slowed from a 2.3% clip in April to 2.2% (consensus: 2.5%) for May.

Core producer prices meanwhile were flat over the month (consensus: 0.3%).

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