PARIS, June 12 (Reuters) – Consumer prices in the United States stagnated unexpectedly in May, which should fuel expectations of an upcoming cut in interest rates from the Federal Reserve which is due in the evening its monetary policy decision.
The consumer price index (CPI) was stable over one month in May, according to data from the Labor Department published on Wednesday, after an increase of 0.3% in April.
Economists polled by Reuters expected an increase of 0.1% over one month.
Over one year, the CPI index increased by 3.3% after +3.4% in April and while economists expected an increase of 3.4%.
Excluding the volatile elements of food and energy, the so-called basic consumer price index (“core CPI”) increased by 0.2% in May after +0.3% in April and against a consensus of +0.3%.
On an annual basis, the core CPI index increased by 3.4% after +3.6% in April.
Economists polled by Reuters expected an increase of 3.5% over one month. (Written by Blandine Hénault)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.