Producer prices shot up 6%, adding pressure on companies to hike prices for struggling customers
U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, the highest point in more than three years, as the Iran war pushes up energy prices
US consumer prices rise in May in line with predictions
A report released by the US Labor Department on Wednesday showed consumer prices in the United States rose by 0. 5% in May after climbing by 0.
Wholesale prices see biggest spike since 2022 as energy costs climb
The producer price index came in much higher than expected in May, signaling that U.S. consumers may face more inflation in the coming months. CBS News' Kelly O'Grady explains.
Producer prices climb at high rate
U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after the start of the Iran war.