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I confirm my intention to proceed and enter this websiteThe U.S. Bureau of Labor Statistics (BLS) disclosed its latest figures on Thursday, revealing the Producer Price Index (PPI) for May. This index, which measures the average change over time in the selling prices received by domestic producers for their output, showed a year-on-year increase of 2.2%. The growth rate is slightly below what financial analysts had anticipated, as they expected a rise of 2.5%. Furthermore, it’s noteworthy that the previously reported year-on-year increase for the preceding period was minutely adjusted upward, from 2.2% to 2.3%. When examining the monthly changes, the PPI experienced a reduction of 0.2%, which is significantly lower than both the prior month’s increase of 0.5% and the anticipated growth of 0.1%.
Additionally, when focusing on the core PPI, which excludes the often fluctuating categories of food and energy, there was a witnessed year-on-year increase of 2.3% in May. The figure also undershot forecasts, which had pegged it at a 2.4% increase. It’s worthy to mention that the previously reported value for the core PPI was slightly revised upward, from an initial 2.4% to 2.5%. On a month-to-month basis, the core PPI showed no growth (0%), which falls below the expected 0.3% increase and is considerably less than the 0.5% growth observed in the period before.
The dollar index marginally increased to 104.85 on Thursday, following a 0.5% decline in the previous session. The rise occurred after the Federal Reserve projected a single interest rate reduction for the current year. However, gains were partially mitigated by softer-than-anticipated U.S. inflation data.
(Dollar Index Weekly Chart)
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