Oil prices declined in May, causing the month-over-month CPI growth to slow down.


However, core CPI still exceeded expectations.
◆ The annual comprehensive CPI rate met expectations (4.2%).
◆ The monthly comprehensive CPI rate met expectations (0.5%), slightly down from last month (0.6%).
◆ The annual core CPI rate met expectations (2.9%).
◆ The monthly core CPI (0.3%) exceeded expectations (0.2%) but was lower than last month (0.4%).
Overall, this reflects falling oil prices, but they remain high; the core CPI exceeding expectations may be influenced by oil prices affecting the costs and prices of other goods.
Next, all eyes are on the meeting on the 18th, the first FOMC meeting chaired by Waller, and the dot plot.
Brother Feng's personal view is that there will be no rate hikes or cuts, but the dot plot is likely to be hawkish.
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