PANews June 13, according to Jinshi, the annual rate of PPI in the United States in May was 2.2%, expected to be 2.50%, and the previous value was 2.20%. The monthly rate of PPI in the United States in May was -0.2%, expected to be 0.10%, and the previous value was 0.50%. The unexpected decline of PPI in the United States in May was the largest drop in 7 months, further proving that inflationary pressures are easing. Data released by the Bureau of Labor Statistics on Thursday showed that the PPI, which represents final demand, fell 0.2% from the previous month and rose 2.2% from the same period last year. Before the release of the PPI report, the previous consumer price data in May also showed a general cooling of the economy. Since July last year, Federal Reserve officials have kept the benchmark interest rate at its highest level in more than 20 years. The Fed's dot plot on Wednesday showed that they expect to cut interest rates only once this year while waiting for further progress on inflation.
