US Producer Prices in May Down 0.2% Month-on-Month... Below Expectations

The Core Producer Price Index Remains Steady Compared to the Previous Month

The U.S. Producer Price Index (PPI) unexpectedly dropped month-over-month in May.

Boeing factory in North Charleston, South Carolina, USA
[Photo by Yonhap News]

On the 13th (local time), the U.S. Department of Labor announced that the producer prices in the U.S. fell by 0.2% compared to the previous month in May. Compared to the same period last year, it rose by 2.2%.

Experts surveyed by Dow Jones had expected a 0.1% increase compared to the previous month.

The core producer price index, excluding energy and food, fell short of the experts' forecast of a 0.2% increase and remained flat compared to the previous month. It rose 3.2% compared to the same period last year.