Prices paid to U.S. producers surged in May, underscoring persistent inflationary pressures across the economy that are likely to keep the Federal Reserve aggressively raising interest rates.
The producer price index (PPI) for final demand increased 0.8 percent from April and 10.8 percent from a year earlier, Labor Department data showed Tuesday. That followed a 0.4 percent advance in the prior month.
Nearly two-thirds of the May increase was due to an increase in goods prices, especially energy. Excluding food and energy, the so-called core PPI was up 0.5 percent in May and rose 8.3 percent from May 2021.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
