Producer Prices Jump 1.4% In May Amid Higher Energy Prices

(RTTNews) - Tuesday morning, the Department of Labor released its report on producer price inflation in the month of May, showing that prices rose more than economists had been expecting amid a substantial increase in energy prices.

The report showed that the producer price index rose 1.4 percent in May following an unrevised 0.2 percent increase in April. The increase came in well above economists’ expectations of an increase of about 1.0 percent.

Excluding food and energy prices, the core producer price index edged up 0.2 percent in May after showing a 0.4 percent increase in the previous month. The modest increase in core prices came in line with estimates.

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