BTMU’s Leading Indicator of Inflation Up in May
The latest finding from the Economic Research Group at Bank of Tokyo-Mitsubishi UFJ, Ltd. in New York indicated that the
Leading Indicator of Inflation increased +0.8 percent in May on top of an unrevised increase of +0.1 percent in the prior month. The year-over-year growth rate for the measure moved up to a drop of -8.3 percent in May, and has fallen for nineteen consecutive months. Seventy-five percent of the components contributed price pressures in May, most notably the ISM price index and slower vendor deliveries. See table of components below.
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