Producer prices shot up 6%, adding pressure on companies to hike prices for struggling customers
Producer prices rose 6% from a year earlier, the highest point in more than three years, as the Iran war pushes up energy prices and intensifies pressure on companies to pass along their rising costs to consumers.
US producer prices rise at fastest pace since November 2022
US producer prices rose in May at the fastest pace in more than three years as the fallout from the Iran war continued to fan inflation pressures.
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.