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Next week's macro outlook: US CPI data for May released on Wednesday

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2025-06-07 13:02:49
Next week's important macro data release nodes are as follows:
Monday at 22:00, the monthly rate of wholesale sales in the United States in April;
Monday at 23:00, the New York Fed's one-year inflation forecast in May.
Wednesday at 20:30, the US CPI data for May.
On Wednesday at 22:30, the EIA crude oil inventory, Cushing crude oil inventory, and strategic petroleum reserve inventory in the United States for the week to June 6.
Thursday at 20:30, the number of people applying for unemployment benefits in the United States until June 7, and the PPI in the United States in May.
At 22:00 on Friday, the preliminary value of the one-year inflation rate forecast in the United States in June and the preliminary value of the University of Michigan Consumer Confidence Index in the United States in June.
The US CPI report for May, due out next Wednesday, will test market optimism about a rate cut, as it could show that the recent downward trend in inflation has stalled. According to the Cleveland Fed's Nowcast model, headline CPI is expected to grow 2.4% year-on-year in May, up from 2.3% last month; core CPI is expected to grow 2.8% year-on-year, unchanged from the previous month. Analysts expect core goods three-month annualised inflation to peak early this autumn (4% -5%), slightly lower and delayed than forecast before the suspension of "reciprocal tariffs" on May 8.
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