U.S. CPI increased 3.3% year-on-year in May, lower than expected; major index futures rose short-term

The U.S. Bureau of Labor Statistics (BLS) released data on Wednesday (12th) showing that the Consumer Price Index (CPI) increased by 3.3% year-on-year in May, lower than market expectations and the previous value of 3.4%; on a monthly basis, the growth was 0%, lower than The market expected 0.1% and the previous value was 0.3%.

Core CPI, the inflation indicator favored by the Federal Reserve (Fed), which excludes food and energy costs, increased by 3.4% in May, lower than market expectations of 3.5% and the previous value of 3.6%; on a monthly basis, core CPI increased by 0.2% , lower than market expectations and the previous value of 0.3%.

After the report was released, the futures of the three major U.S. stock indexes rose in the short term. The S&P 500 index futures rose nearly 0.8%, the Nasdaq 100 index futures rose nearly 1%, and the Dow Jones index futures rose nearly 0.7%. The U.S. dollar index fell in the short term, temporarily It reported 105.055, down 0.61% on the day; the U.S. 10-year Treasury bond yield fell to 4.38%, and the price of gold futures rose 0.19% to $2,331.10 per ounce.

U.S. inflation cooled sharply in May, an encouraging sign for Fed officials. Exchange rate contracts show that the market is pricing in a 100% chance of the Fed cutting interest rates by 1 yard (25 basis points) in November.