US May 2020 consumer price index highlights
- Prior was +0.3%
Details
- CPI MoM -0.1% versus -0.8% estimate
- CPI ex food and energy -0.1% versus 0.0% estimate
- CPI ex food and energy 1.2% y/y versus 1.3% estimate
- Food -0.7%
- Housing +0.2%
- Owner's equivalent rent +0.3%
Earnings remain high:
- Real average hourly earnings year on year rose by 6.5% y/y versus 7.6% in the prior month
- Real average weekly earnings year on year increase by 7.4% versus 7.0% last month
There wasn't much market response to the data but ten-year Treasury yields did tick to 0.80% from 0.81% in a sign of low inflation and prospects for the Fed to do more down the road.
