6/14: MetroIntelligence Economic Update by P. DUFFY

CPI rose 0.2 percent in May, up 2.8 percent year-on-year

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in May on a seasonally adjusted basis after rising 0.2 percent in April. Over the last 12 months, the all items index rose 2.8 percent before seasonal adjustment.

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PPI rose 0.5 percent in May, up 3.1 percent year-on-year

The Producer Price Index for final demand rose 0.5 percent in May, seasonally adjusted. On an unadjusted basis, the final demand index moved up 3.1 percent for the 12 months ended in May, the largest 12-month increase since climbing 3.1 percent in January 2012.

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May Small Business Optimism Index rose 3 points to near-record level

The Small Business Optimism Index increased in May by three points to 107.8, to the second-highest level in the NFIB survey’s 45-year history.  Respondents reported high numbers in several key areas including compensation, profits, and sales trends.

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Firms’ inflation expectations for the year ahead remain flat at 2.1 percent

Despite rising inflation noted in May, firms’ inflation expectations in June were roughly unchanged at 2.1 percent over the year ahead.

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