Some more good work from Damien Boey at Credit Suisse today:
US inflation picks up a little further
US headline CPI rose by 0.2% in May, taking year-ended headline inflation higher to 2.8% from 2.5%. Excluding food and energy, core CPI rose by 0.2% over the month, taking year-ended core inflation slightly higher to 2.2% from 2.1%.