What do you read from the US inflation data at high levels for May 2022?
Answer
Answer
US inflation for May 2022 touched a 40-year high of 8.6%. Inflation was up 100 bps MOM. Energy inflation, grocery inflation, gasoline prices were all among the key drivers of US inflation. It almost reinforces a 75 bps rate hike in the June Fed policy meet instead of just 50 bps.