Odaily, citing Jinshi, reported that the U.S. Producer Price Index for May rose 1.1% month on month, compared with an expected increase of 0.7%. The previous reading was revised from 1.40% to 1.1%, making the revised prior figure the same as the newly reported May headline PPI monthly rate.
The report also showed that U.S. core PPI for May increased 0.4% month on month, below the expected 0.5%. The previous core PPI reading was revised from 1.00% to 0.7%. PPI tracks price changes at the producer level, while core PPI excludes certain more volatile components.
The key points in the flash update are that headline PPI came in above expectations, core PPI came in below expectations, and both prior readings were revised lower. The figures relate to U.S. producer-price inflation indicators for May.