US consumer prices dip 0.1 percent in May

US consumer prices dip 0.1 percent in May

"Our view is that inflation will rise steadily to a little above three per cent by the summer", he said.

The likelihood of a rate hike in September has significantly weakened, however, with futures rates showing just a 17 percent chance of an increase, down from 28 percent before the data release on Wednesday, according to CME Group's FedWatch.

Output increased at a 2.1 percent pace in the October-December period. The Atlanta Fed is forecasting GDP rising at a 3.0 per cent annualised rate in the second quarter. This was also slightly below expectations for a 2.0% rise and April's 2.2%.

Meanwhile, in its latest monthly survey published today, the Scottish Retail Consortium (SRC) cautions that family finances are "set to be buffeted further by overall inflation outstripping the growth in wages". The CPI rose 2.2 per cent in the 12 months through April.

And the 12-month core, which has been falling since January, slipped another two-tenths to 1.7 percent, putting the measure back to where it was two years ago.

Bryant said the BoE's interest rate setters might choose to use a policy statement on Thursday to remind investors that they could move sooner to raise borrowing costs than the 2019 date that economists are mostly expecting.

"As such we are maintaining our underweight to United Kingdom equities and increasing exposure to defensive large caps using the Fidelity Money Builder Dividend fund at the expense of cyclicals and mid-cap stocks".

Rep. DeSantis: Shooting Suspect Asked if 'Republicans or Democrats' on Field
DeSantis said threats are not new to him. "I've had people call and hope that my daughter dies, who is six months old", he said. Tim Scott's office said he was not at the ball field at the time of the shooting .

That was its biggest increase since June 2013, the Office for National Statistics said, and was above the median forecast of 2.7 percent in a Reuters poll of economists.

Core inflation, which excludes energy and food, rose a slight 0.1 per cent in May.

Commentators had expected inflation to hit 2.7% last month, but the actual figure surprised markets by touching its highest level since April 2014. Owners' equivalent rent of primary residence advanced 0.2 per cent after a similar increase in April.

Other data showed a continued rise in the number of people on the so-called claimant count - up for the third month in a row in May to stand at 802,600.

Clothing costs dropped 0.8 per cent in May while the cost of new cars and used cars both fell 0.2 per cent.

For now, Fed officials don't appear overly concerned with the recent downward path, attributing it at least in part to one-time drops in prices for things like wireless telephone services and prescription drugs.

Department store sales tumbled 1.0 per cent, the largest drop since July 2016. That has led some retailers, including Macy's, Sears and Abercrombie & Fitch to announce shop closures. Unemployment in May dipped to 4.3 per cent.

Related Articles

  • Sen. Bernie Sanders condemns shooter who 'apparently' volunteered on campaign

    In March, he posted an anti-Trump message that says, " Trump is a Traitor ". "I don't envy the rich", he wrote in another letter. James Hodgkinson , 66, of Belleville , Illinois wounded four people, including Congressman Steve Scalise , two U.S.
    North Korea releases United States  citizen Otto Warmbier

    North Korea releases United States citizen Otto Warmbier

    Rodman, 56, won five National Basketball Association championships as a player with the Detroit Pistons and Chicago Bulls. North Korea believes its missile program is the only way to deter Washington from trying to overthrow the Kim regime.

    Morgan Stanley Decreases Stake in Duke Realty Corporation (DRE)

    On December 8 the company was downgraded to "Hold" from "Buy" and a price target of $117.00 was set by Jefferies. The stock of SL Green Realty Corp (NYSE:SLG) has "Hold" rating given on Monday, August 15 by Evercore.
  • Ratings for 2017 NBA Finals Highest Since Jordan's Last Title in 1998

    Ratings for 2017 NBA Finals Highest Since Jordan's Last Title in 1998

    In San Francisco, hundreds of fans packed Civic Center Plaza to watch the Warriors game for free on a big screen TV at City Hall. Cleveland has James, Kevin Love , and Tristan Thompson as a more traditional front court threesome.
    Fox News Channel dumps

    Fox News Channel dumps "Fair & Balanced" slogan

    Ailes, 77, died last month , still seething about losing control of the network he had built with media mogul, Rupert Murdoch . But "Fair & Balanced" definitely was best known, and most mockable.

    Sony Could Learn a Lot From Microsoft About Backwards Compatibility

    It's biggest arch rival, Sony's PlayStation 4 has been outselling the company's Xbox One for months now. However, many fans were quite sad about the price, which is $499, which is around Rs. 32,000.
  • Senate Republicans, Democrats Agree on New Russia Sanctions

    Senate Republicans, Democrats Agree on New Russia Sanctions

    When asked if he thinks that the bill will be adopted, Larsen, stated, "I do think it will be". "I'm confident about that". At the same time, he also said he doesn't want to preemptively shut down a potentially productive conversation.
    EU launches legal action against 3 countries over refugees

    EU launches legal action against 3 countries over refugees

    An EU official said that despite its legal challenge, Slovakia had heeded the call to take in refugees and so escaped sanction. With others also dragging their feet, the scheme has been a failure and fewer than 21,000 people have been moved so far.
    Pittsburgh hosts parade for Penguins' Stanley Cup win

    Pittsburgh hosts parade for Penguins' Stanley Cup win

    We have no idea who this kid is, or even if he is in fact nine-years-old, but it's a precious moment any true sports fan can appreciate it.
  • Election debacle leaves United Kingdom  govt in minority on eve of Brexit talks

    Election debacle leaves United Kingdom govt in minority on eve of Brexit talks

    The results confounded those who said the opposition Labour Party's left-wing leader, Jeremy Corbyn, was electorally toxic. The result is a gain of 34 seats for Labour and a loss of 16 for the Conservatives.
    Putin Critic Navalny Detained After Defying Police With Protest Call

    Putin Critic Navalny Detained After Defying Police With Protest Call

    Arrests continued in the capital throughout the afternoon, although there were no immediate figures on how many were detained. For that reason, he said he was unilaterally switching the venue to Tverskaya Street, Moscow's main avenue near the Kremlin.
    Dembele scores late winner as France beat England

    Dembele scores late winner as France beat England

    However, Ousmane Dembele won it for Les Bleus 12 minutes from time when he punished some sloppy England defending. Despite being a man down, Ousmane Dembele bagged the victor for France in the 78th minute.