Initial Claims increased to 472,000, for the week ending 06/12, against the expected decrease to 456,000, after increasing to 460,000, the revised level for the previous week. The 4-week moving average decreased to 463,500, from the previous week’s revised average of 464,000. Seasonally adjusted insured unemployment from the prior week, ending on 06/05, was 4,571,000, an increase of 88,000 from the preceding week’s revised level of 4,483,000. Seasonally adjusted insured unemployment rate from the week ending on 06/05, was 3.6%, an increase of 0.1% from the previous week’s unrevised figure of 3.5%.
 
The Consumer Price Index decreased by 0.2% in May, matching expectations, to an index value of 218.178 (1982-84=100), after decreasing by 0.1% in April and increasing by 0.1% in March. This is the largest such decline since prices fell 0.7% in December 2008. Over the year the CPI has increased by 2.0% before seasonal adjustment. The food index was unchanged after increasing by 0.2% both in March and April and is up by 0.7% over the year. Energy Prices declined by 2.9% after decreasing by 1.4% in April, but are up 14.7% over the year. Excluding food and energy prices, the Core CPI increased by 0.1% after remaining unchanged in March and April and has advanced by 0.9% over the year.
 
The Conference Boards’ Leading Indicators Index numbers are expected today at 10:00 AM EST. The index had decreased by 0.1% in April to 109.3 (2004=100). The Coincident Index had increased by 0.3% to 100.6 (2004=100) and the Lagging Index had increased by 0.1% to 108.2 (2004=100).
 
Upcoming Releases

Leading Indicators (06/17 at 10:00 AM EST)
Existing Home Sales (06/22 at 10:00 AM EST)
New Home Sales (06/23 at 10:00 AM EST)
Crude Inventories (06/23 at 10:30 AM EST)
 

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