US PPI Jump 6.5%, Highest Since 2022, as Oil Shock Spreads

US producer prices surged far more than expected in May, highlighting that inflation pressures continue to build beneath the surface of the economy despite Wednesday’s relatively reassuring consumer inflation report. PPI rose 1.1% mom, matching April’s increase and exceeding expectations of 0.7% mom. Annual producer inflation accelerated from 5.9% yoy to 6.5% yoy, the strongest […]

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