US CPI rose 0.1% mom in May, below expectation of 0.3% mom. CPI core, all items less food and energy, rose 0.4% mom, matched expectations. Food index rose 0.2% while energy index declined -0.3% mom.
For the 12 months, CPI slowed from 4.9% yoy to 4.0% yoy, below expectation of 4.2% yoy. That’s also the lowest reading since March 2021. CPI core slowed from 5.5% yoy to 5.3% yoy, matched expectations. Energy index dropped -11.7% yoy while food index rose 6.7% yoy.
