Wednesday 12th June 2024 saw the Dow Futures jump over 200 points as the latest data from the Bureau of Labor Statistics (BLS) has revealed that consumer price increases moderated in May in the United States.
The Consumer Price Index (CPI) remained unchanged from the previous month and rose 3.3% year-over-year in May. This represents a slowdown from April's 0.3% month-over-month increase and 3.4% annual gain. Both figures were lower than economists had anticipated and marked the lowest monthly headline reading since July 2022.
A drop in energy prices, particularly gasoline, contributed to the decline in headline CPI. On a "core" basis, which excludes the volatile costs of food and gas, prices in May increased by 0.2% month-over-month, the lowest monthly core reading since June 2023, and 3.4% year-over-year. These figures were also cooler than April's data and below economists' estimates.
As well as Dow Futures jumping the markets generally responded positive ...
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