Breaking: US annual PPI inflation declines to 2.2% in May

The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in May, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed the 2.3% increase recorded in April (revised from 2.2%) and came in below the market expectation of 2.5%.

The annual core PPI rose 2.3% in the same period, coming in below April's increase and the market expectation of 2.4%. On a monthly basis, the PPI declined 0.2%, while the core PPI remained unchanged.

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