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12 June

By Ahmed Mamdouh

Category: Forex News

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US consumer prices rise 0.2% in May

U.S. consumer prices rose in line with forecasts in May, while the core reading came higher than analysts’ projections.

The consumer price index soared 0.2 percent, matching both prior and expected readings, while the annual CPI reading accelerated to 2.8 percent from 2.5 percent.

The core reading came above projections of 0.1 percent at 0.2 percent, following a 0.1 percent increase in April.

The dollar index traded lower at 93.54, after hitting a peak of 93.87 earlier in the session, as of 12:41 GMT.

The data comes ahead of the Federal Reserve’s interest rate decision on Wednesday, where policymakers are predicted to hike rates to 2.0 percent from 1.75 percent.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.