US producer prices rose 1.1 per cent MoM in May, matching April’s increase, while annual producer inflation accelerated to 6.5 per cent, the highest since November 2022.
The rise was driven by a 2.8 per cent jump in goods prices, led by energy costs and a 23.4 per cent surge in gasoline prices.
Core producer inflation increased 5.1 per cent YoY.
The rise was driven by a 2.8 per cent jump in goods prices, led by energy costs and a 23.4 per cent surge in gasoline prices.
Core producer inflation increased 5.1 per cent YoY.
