OfficailBLOG
  1. BigBoss
  2. blog
  3. Daily News
  4. US inflation jumped to 13-year high, reaching 5% in May

US inflation jumped to 13-year high, reaching 5% in May

Thursday investors saw the latest release on US inflation data, which showed that CPI rose by 5.4% on a YoY basis, well beyond the expectation. The data have created a 13-year record because the increase was the largest since 2008. Core CPI, which excludes food and energy, jumped 3.8% on a YoY basis, the largest increase since 1992. Consumers are experiencing price increases for purchases such as vehicles, as used cars and trucks rose by 7.3%. Moreover, prices in furniture, airlines and clothing have also increased significantly. Overall prices jumped 9.7% on an annualized rate.

DXY Index was slightly down after the inflation data but managed to maintain above the 90 level. Currently it is trading around 90.05. Also on Thursday, ECB raised its views on growth and inflation but promised to keep the policy unchanged. The comments have nevertheless created some worries in the market. As a result, EURUSD rose slightly by 0.07% since openings, trading at 1.2181.