Producer Prices Bolster Case For Cooler US Inflation

In a boon to the Fed's inflation-fighting efforts, pipeline price pressures abated more than expected in May, data released just hours ahead of the June FOMC decision showed. Producer prices for final demand fell 0.3% from April, the BLS said. That matched the lowest estimate from nearly five-dozen economists. Consensus expected a 0.1% drop. May's monthly decline was the third in four. The data came on the heels of May's CPI report which, while consistent with the Fed's plans to take a one-