The seasonally adjusted CPI month-on-month rate for May is 0.1%, expected 0.2%, previous value 0.2%. The unadjusted CPI year-on-year rate for May is 2.4%, expected 2.5%, previous value 2.3%. The unadjusted core CPI year-on-year rate for May is 2.8%, consistent with the expected 2.8% and the previous value of 2.8%. The seasonally adjusted core CPI month-on-month rate is 0.1%, expected 0.3%, previous value 0.2%. As the CPI data is below expectations, traders have increased their bets on a rate cut by the Federal Reserve in September.
