US CPI accelerated again from 8.3% yoy to 8.6% yoy in May, well above expectation of 8.2% yoy. That’s the highest level since December 1981. CPI core slowed from 6.2% yoy to 6.0% yoy, above expectation of 5.9% yoy. Energy index rose 34.6% yoy, largest 12-month increase since September 2005. Food index rose 10.1% yoy, first rise above 10% since March 1981.
CPI rose 1.0% mom, above expectation of 0.7% mom. Core CPI rose 0.6% mom, above expectation of 0.5% mom.
