US PPI in line with expectations
The producer price index increased at an annual rate of 11.0% in April, signaling persistent inflationary pressures. Despite the high level, the increase rate is slower than the 11.2% annual rise in the prior month, fueling hopes that we might be seeing the peak.
Now the question that everybody in the market is asking is how quickly will price increases come down back to more normal levels, giving room for the Fed to reconsider its tightening policy.
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