US: Annual core CPI drops to 1.2% in May vs. 1.3% expected

• Annual core CPI in US fell more than expected in May.
• US Dollar ındex remains deep in the negative territory near 96.00.

Inflation in the US, as measured by the Consumer Price Index (CPI), was -0.1% and 0.1% on a monthly and yearly basis, respectively, in May, the US Bureau of Labor Statistics reported on Wednesday.

Further details of the publication revealed that the core CPI, which excludes volatile food and energy prices, fell to 1.2% annually from 1.4% and missed the market expectation of 1.3%.

Market reaction

The US Dollar Index paid little to no attention to these figures and was last seen losing 0.3% on a daily basis at 96.11.