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Daily Roundup of Key US Economic Data for June 11

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The PPI rose by 1.1% in May following a 1.1% gain in April, with energy prices up 10.7% and food prices up 0.6%.

Gasoline prices alone surged by 23.4% after a 15.2% gain. Core prices, which exclude food and energy, increased by 0.4% after a 0.7% increase in the previous month.

The year-over-year rise in producer prices rose to 6.5% from 5.7% in the prior month, the highest since November 2022, while core prices remained at a 4.9% annual rate.

Initial jobless claims increased by 4,000 to 229,000 in the week ended June 6, lifting the four-week moving average by 4,250 to 219,000, a third straight increase.

Insured claims rose by 24,000 to 1.795 million in the week ended May 30.

Natural gas stocks rose by 108 billion cubic feet to 2.686 trillion cubic feet in the week ended June 5, down 0.2% from a year earlier but 6% higher than the seasonal average for the current week over the previous five years.

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