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 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.
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.
Wholesale inflation in May hit highest level since November 2022 on soaring energy costs
Wholesale inflation shot up in May to its highest level since November 2022 as higher energy costs amid the Iran war weighed on the economy – likely keeping the Fed from slashing interest rates anytime soon.