Producer prices contracted -0.2% in May.
Expectations were for growth 0f 0.1%, against 0.6% prior.
Ex- food and energy, prices contracted -0.1%.
Producer prices climbed 2% year-over-year.
The BOE warned yesterday interest rates could rise sooner than expected, and some believed the Fed might be inclined to pick up that baton. Today’s reading may put a damper on that call.
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