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May PPI & ECB Decision -3

09:00 11-Jun-26


May PPI headlined at +1.1% well above forecasts for +0.7%.  The Core number doubled expectations at +0.8%  Almost all of this was in goods which rose 2.8% for the month, the largest increase ever, and most that was from fuel prices.  Services rose just 0.3%.  This shows energy flowing through to the overall economy and set to impact consumer demand.  American equity futures were up big, and are losing momentum following this report.

The ECB also hiked by a quarter point and the press conference is underway echoing similar effects.