US CPI rose 0.6% mom in May, above expectation of 0.4% mom. Over the last 12 months, CPI accelerated sharply to 5.0% yoy, up from 4.2% yoy, above expectation of 4.6% yoy. That’s also the highest annual inflation since August 2008. The index has also bee trending up ever month since January.
Core CPI, all items less food and energy, rose 0.7% mom, versus expectation of 0.4% mom. Over the last 12-months, core CPI accelerated to 3.8% yoy, up from 3.0% yoy, above expectation of 3.4% yoy. That’s the largest annual increase since June 1992.
