US consumer prices slow in May

  • by Ahmed Mamdouh
  • June 12, 2019, 16:36 AM
  • 2298 Views
 4       2      

Consumer prices in the United States showed a slowdown in May, keeping inflation weak ahead of the Federal Reserve’s meeting next week, Labor Department data showed on Wednesday.

The consumer price index (CPI) saw a 0.1 percent surge in May, following a 0.3 percent increase in April, coming in line with estimates. The year-on-year reading decelerated to 1.8 percent from a previous of 2 percent.  

Core CPI- excluding volatile food and energy prices- showed a 0.1 percent surge, similar to April’s pace, compared to expectations of 0.2 percent, while were 2.0% up year over year from the prior reading of 2.1 percent.

The dollar index, which tracks the green currency’s movements versus a basket of major currencies, traded lower at 96.57, compared to the session’s open at 96.60.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at Ofeed.com, with 11 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from the American University in Cairo and a Bachelor Degree in Economics from the Faculty of Economics and Political Science, Cairo University.

Related Articles