US wholesale inflation heated up in May
CNN
The latest Producer Price Index, a closely watched measurement of wholesale inflation, rose 0.1% in May, lifting the annual rate to 2.6%, according to Bureau of Labor Statistics data released Thursday.
US wholesale inflation rose slightly in May. The latest Producer Price Index, a closely watched measurement of wholesale inflation, showed that prices paid to producers rose 0.1% in May, lifting the annual rate to 2.6%, according to Bureau of Labor Statistics data released Thursday. The upswing marked a turnabout from a 0.2% drop in April, which was driven largely by wholesalers and retailers’ margins being squeezed because of higher tariffs. Economists were expecting that prices would rise 0.2% from April and 2.6% for the 12 months ended in May. PPI serves as a potential bellwether for retail-level inflation in the months ahead. On Wednesday, the latest Consumer Price Index data showed that overall inflation rose less than expected for goods and services commonly purchased by Americans.
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