Market Weekly: May 10 – 16 2020

#23673
Helmholtz Watson
Participant

US CPI for April MoM -0.8% as expected

CPI ex food and energy -0.4% versus -0.2% estimate
CPI YoY 0.3% versus 0.4% estimate – year on year inflation rate is the lowest level since October 2015.

CPI ex food and energy 1.4% v 1.7% estimate (Lowest core – ex food and energy component was the lowest going back to 1957).

food and ex in April increase 1.5% after rising 0.3% in March
energy increase decrease -10.1% versus -5.8% in March
apparel prices fell -4.7% versus -2% last month
services ex energy fell -0.4% versus 0.0% last month

real average hourly earnings year on year rose by 7.5% versus 1.6% in the prior month
real average weekly earnings year on year increase by 6.9% versus 0.6% last month
the average weekly earnings came to $1026.34 versus $977.65