The US Commerce Department released the producer price index for the month of May, where PPI fell by 0.2%, compared with the prior rise of 0.8% yet above the 0.1% forecasted, while compared with a year earlier, PPI rose by 7.3%, compared with the prior estimate and projected 6.8%.

Core PPI rose by 0.2% as expected and below the prior estimate of 0.3%, while compared with a year earlier, core PPI remained unchanged from the prior 2.1% also as forecasted.