Investment Rating - The report suggests a modest increase in producer prices, indicating limited signs of abnormal price increases due to tariffs, which may lead to a soft core PCE inflation expectation of 0.14% MoM in May [1][4][5] Core Viewpoints - Producer prices rose by 0.1% MoM in May, following a revised decline in April, suggesting that tariff impacts on prices may not yet be fully realized [1][4] - Core goods prices increased by 0.2% MoM, while core services prices remained flat, indicating a mixed inflationary environment [5][6] - The report anticipates that inflationary pressures are easing, which may provide confidence to Federal Reserve officials regarding future monetary policy adjustments [6][8] Summary by Sections - **PPI Overview**: Producer prices increased by 0.1% MoM in May, with core measures also reflecting a similar increase, although this was softer than expected [4][6] - **Inflation Expectations**: A 0.14% MoM increase in core PCE inflation is expected for May, with year-on-year core PCE potentially rising to 2.6% [5][7] - **Tariff Impact**: The report notes that significant tariffs, such as 50% on steel and aluminum, may affect input goods prices in the coming months, but current data shows limited immediate impact [8][9] - **Airfare Trends**: Airfares are expected to decline by around 1% in May, which is less than previously anticipated, indicating ongoing weakness in travel demand [7][9]

Group 1 - The core point of the article indicates that Russia's Consumer Price Index (CPI) increased by 0.03% week-on-week for the week ending June 9, and has accumulated a rise of 3.6% year-to-date in 2025 [1]

5月30日消息，德国5月CPI初值同比增长2.1%，预期2.1%，前值2.1%。德国5月CPI初值环比增长0.1%， 预期0.1%，前值0.4%。 ...

Group 1 - The Consumer Price Index (CPI) in Russia increased by 0.06% week-on-week for the week ending May 26, compared to a 0.07% increase for the week ending May 19 [1] - The CPI has risen by 3.34% year-to-date in 2025, up from a previous increase of 3.27% [1] - In April, the industrial output prices increased by 1.5% year-on-year [1] Group 2 - The producer prices decreased by 1.4% month-on-month in April, while they increased by 1.5% year-on-year [1]

澳大利亚4月CPI同比 2.4%，预期 2.3%，前值 2.4%。 ...

智通财经5月23日电，新加坡4月份CPI同比增长0.9%，预估增长0.8%；4月份核心CPI同比增长0.7%，预 估增长0.5%。 ...

Group 1 - The core point of the article indicates that Russia's Consumer Price Index (CPI) increased by 0.07% week-on-week for the week ending May 19, and the cumulative CPI increase for the year 2025 so far is 3.27% [1]

Group 1 - In April, Russia's Consumer Price Index (CPI) increased by 0.40% month-on-month, slightly below the expected increase of 0.50% [1] - Year-on-year, the CPI rose by 10.23%, also slightly below the forecasted increase of 10.30% [1] - The core CPI for April saw a month-on-month increase of 0.32% and a year-on-year increase of 9.23% [1] Group 2 - In the first quarter, Russia's GDP grew by 1.4% year-on-year [1]

Group 1 - The final Consumer Price Index (CPI) for France in April is reported at 0.8% year-on-year, matching both the expectations and the initial estimate [1]

4月布宜诺斯艾利斯CPI环比上升2.8%，同比上升47.7%。 4月CPI同比上升47.3%，预期上升47.95%。 阿根廷4月CPI环比上升2.8%，预期上升3.2%。 ...