The producer price index (PPI) rose 0.8% in May, above the 0.6% expected, and higher than the 0.6% increase in April. The annual rate increased from 6.2% to 6.6%, higher than the 6.3% market consensus, a new high since 2008.
Regarding the IPP subyacente, There was an increase of 0.7% in May, higher than the 0.5% expected and similar to the rise in April. The annual rate, as expected, climbed from 4.1% to 4.8%.
At the same time, there was a larger-than-expected drop in retail sales for May. Both reports are given in advance of the Federal Reserve’s decision that will be known on Wednesday. The dollar reacted first with a slight fall, but then resumed its rhythm in the market. Later on Tuesday, the industrial production report and the inventory report will be published.
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