Producer prices fell for the second month in a row but remain over 10.0% in May, according to the latest data from the Bureau of Labor Statistics…(BLS)
- Y-O-Y: The Producer Price Index for final demand was down slightly to 10.8% in May, this is down from the 10.9% reported in April.
- M-O-M: Producer prices were up 0.4%, this is up from the 0.2% decline last month.
SILVER LINING: Economists had projected that year-over-year inflation would hold at 10.9% so the slight dip did beat expectations.
Kathy Jones, Chief Fixed Income Strategist at the Schwab Center for Financial Research, said, “Producer prices remain elevated. The CPI grabbed headlines last week, but this confirms that inflation pressures remain.”