US PPI MoM for May 0.5% vs. 0.3% expected. YoY 3.1% vs. 2.8% expected

US PPI data for May 2018
The US PPI data from May came out Higher than expected
The numbers are hotter than expected and could be reflective of a pipeline of price increases for consumers down the road.  The FOMC is expected to increase rates by 0.25% to 1.75%-2.0% range at 1 PM ET today. 

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