US inflation seen mild as PPI dips 0.2% in May
Print Edition
THE prices US companies receive for their goods and services fell in May, offering evidence that inflation is mild.
The Producer Price Index, which measures the cost of goods and services before they reach the consumer, shed 0.2 percent last month, the Labor Department said yesterday. The decline was led by cheaper food and gas, and follows two months of strong gains that had suggested inflation might be rising after being dormant for two years.
In the past 12 months, producer prices have risen 2 percent, matching the Federal Reserve’s inflation target. That’s down from an annual gain of 2.1 percent in April.
“The underlying details of the report suggest producer price inflation is still contained despite the big increases in the last few months,” said Omair Sharif, an economist at RBS Securities.
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