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US Inflation and Consumer Confidence Data for May Released

AI Summary

US inflation rates have exceeded expectations, which could indicate that persistent economic challenges are ahead.

According to Odaily, the preliminary estimate for the one-year inflation rate in the United States for May is 7.3%, surpassing the expected 6.50% and the previous value of 6.50%. Additionally, the forecast for the five to ten-year inflation rate for May is initially estimated at 4.6%, higher than the anticipated 4.40% and the previous figure of 4.40%. Meanwhile, the preliminary consumer confidence index from the University of Michigan for May is reported to be 50.8, below the expected 53.4 and the previous value of 52.2.