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US annual CPI inflation rises to 8.6% in May

The annual pace of inflation in the US rose to 8.6% in May according to the latest Consumer Price Index data released by the US Bureau of Labour Statistics on Friday. That was above the expected reading of 8.3%. MoM, the headline inflation rate was 1.0%, well above the expected rise to 0.7% from 0.3% back in April. 

Core measures of the CPI also came in hotter than expected. YoY, core prices were up 6.0%, above the expected drop to 5.9% from 6.2% a month earlier. MoM, the rise in core prices was also higher than expected at 0.6% and unchanged versus one month ago, versus expectations for a drop to 0.5%. 

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