Producer prices unchanged in May as energy costs decline
Washington
US producer prices were unchanged in May as energy costs recorded their biggest decline in more than a year, suggesting that inflation pressures were easing after rising at the start of the year.
Signs of abating inflation came as Federal Reserve officials prepared to gather for a two-day policy meeting on Tuesday. The US central bank is expected to raise interest rates at the end of the meeting on Wednesday, but weakening inflation could limit the scope for further monetary policy tightening this year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Thai power demand hits record as extreme heat prompts warnings
Philippines denies deal with China over disputed South China Sea shoal
‘Everyone sits out’: Yangon parks offer heatwave relief
When US diplomats visit China, meal choices are about more than taste buds
China’s first-quarter industrial profits rise at slower pace
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia