US CPI increased 0.2% in May

Thursday, Jun 16 2016

The Consumer Price Index increased 0.2% in May on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index rose 1.0% before seasonal adjustment. The food index declined in May, but the indexes for energy and all items less food and energy rose, resulting in the seasonally adjusted all items increase. The food index fell 0.2% as all six major grocery store food group indexes declined. The energy index increased 1.2% as the gasoline index rose 2.3% and the indexes for fuel oil and natural gas also advanced.

Seprate report on Unemployment Claims showed that in the week ending June 11, the advance figure for seasonally adjusted initial claims was 277,000, an increase of 13,000 from the previous week's unrevised level of 264,000. The 4-week moving average was 269,250, a decrease of 250 from the previous week's unrevised average of 269,500. There were no special factors impacting this week's initial claims. This marks 67 consecutive weeks of initial claims below 300,000, the longest streak since 1973.

On the other side Philly Fed Manufacturing Index rose almost 7 points, to 4.7, and returned to positive territory this month after two consecutive negative readings. Nearly 55 percent of the respondents reported no change in new orders this month, and 45 percent reported no change in shipments. As with the other broad indicators this month, the unfilled orders, delivery times, and inventories indexes all remained negative.

Euro is currently being traded few points above 1.1230 level, Sterling is around 1.42 handle, while Aussie is at 0.7360 area.

Last modified on Thursday, 16 June 2016

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