The U.S. Commerce Department released the consumer price index for the month of May, where CPI increased by 0.2%, compared with the prior rise of 0.4% and above than median estimates of 0.1%, while compared with a year earlier, CPI increased by 3.6%, compared with the prior rise of 3.2% and higher than median estimates of 3.4%.

Core CPI, which excludes prices of food and energy, increased by 0.3%, compared with the prior rise and median estimates of 0.2%, while compared with a year earlier, Core CPI increased by 1.5%, compared with the prior estimate of 1.3% and median estimates of 1.4%.