Economics
U.S. Producer Prices Accelerated in May, Stoking Price Pressures
- PPI climbed 0.8% in May, from 0.6% in April; core up 0.7%
- The 6.6% annual rise in PPI was largest in data back to 2010
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Prices paid to U.S. producers rose more than expected in May, fueling companies to raise prices on American consumers.
The producer price index for final demand increased 0.8% from the prior month after a 0.6% gain in April, according to data from the Labor Department Tuesday. Excluding volatile food and energy components, the so-called core PPI rose 0.7%.