Oil prices declined in May, causing the month-on-month CPI growth rate to slightly ease


Core CPI month-on-month growth rate below expectations
◆ The comprehensive CPI annual rate meets expectations (4.2%).
◆ The comprehensive CPI month-on-month rate meets expectations (0.5%), slightly down from last month (0.6%).
◆ The core CPI annual rate meets expectations (2.9%).
◆ The core CPI month-on-month rate (0.2%) is below expectations (0.3%) but lower than last month (0.4%).
Overall, it reflects falling oil prices, but they still remain high.
If the data is accurate, it’s not a bad overall message.
Next, all eyes are on the interest rate meeting on the 18th, the first FOMC meeting chaired by Wosh, 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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