US consumer price growth delays in May 2016. The US inflation reached 0.2% month-on-month base in May, from a level of 0.4% mon in April. On year-on-year base the CPI reached 1.0% from 1.1% a month earlier. Economists expected 0.3% rise in consumer prices on a monthly basis and 1.1% annually. The increase is supported by the appreciation in health care and utilities. Core inflation, which does not include volatile energy prices and food prices, was 0.2% monthly and 2.2% annually. In May gasoline rose by 2.3%, after jumping 8.1% in April. The food products dropped by 0.2%.
Inflation rates are still far from the target level of 2% of the US Federal Reserve. At its meeting this week, central bankers expected left interest rates unchanged.
The members of the monetary policy signaled that it still planned twice raise rates. Market expectations, however, are more single monetary policy tightening.
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