US Wholesale Inflation Surges to 6.5% in May
PPI advanced 6.5% over the 12 months ended in May, climbing from 5.7% in April to reach its highest level since November 2022.
Energy prices served as the primary catalyst behind the surge, jumping 10.7% on a monthly basis, with gasoline prices alone spiking 23.4%.
Core PPI, which excludes food and energy, increased 4.9% on an annual basis, coming in below the projected 5.4% but reinforcing a persistent underlying inflation...
