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Producer inflation rose again in May as goods prices accelerated amid rising energy costs.
The producer price index jumped by 1.1 percent last month, unchanged from April’s downwardly revised 1.1 percent increase, according to new Bureau of Labor Statistics data released on June 11.
The consensus estimate suggested a 0.7 percent gain.
Economists monitor this measure as a pipeline inflation indicator, since it reflects the prices businesses pay for goods and services and pass on to consumers.
On a 12-month basis, wholesale inflation climbed to a higher-than-expected 6.5 percent, from a downwardly adjusted 5.7 percent in the previous month. This marked the highest year-over-year level since the 7.4 percent reading in November 2022….
The producer price index jumped by 1.1 percent last month, unchanged from April’s downwardly revised 1.1 percent increase, according to new Bureau of Labor Statistics data released on June 11.
The consensus estimate suggested a 0.7 percent gain.
Economists monitor this measure as a pipeline inflation indicator, since it reflects the prices businesses pay for goods and services and pass on to consumers.
On a 12-month basis, wholesale inflation climbed to a higher-than-expected 6.5 percent, from a downwardly adjusted 5.7 percent in the previous month. This marked the highest year-over-year level since the 7.4 percent reading in November 2022….
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