PPI data

Headline PPI in May fell 3 tenths m/o/m, 2 tenths more than expected and after a .2% gain in April. The core rate was higher by .2% as forecasted. The headline y/o/y has now slowed to just 1.1% from 2.3% in April. The core rate was up 2.8% y/o/y vs 3.1% in the month before. Lower food and energy prices (particularly gasoline) kept a lid on wholesale pri…