US EditionUS Producer Prices Rise 2.6% in May with Inflationary Pressures Still Mild
- The Labor Department reported that the producer price index rose 2.6% in May 2024, reflecting a modest increase in wholesale prices from a year earlier.
- This rise follows a 0.2% drop in April and comes amid ongoing effects from tariffs imposed by President Donald Trump on steel, aluminum, autos, and nearly every country.
- Wholesale prices, not counting the often fluctuating food and energy sectors, increased by 0.1% from April to May. Meanwhile, gasoline costs went up by 1.6%, and egg prices jumped 1.4% following a significant drop in April.
- Carl Weinberg, an economist at High Frequency Economics, stated that current data do not support discussions about raising interest rates by the Federal Reserve, given the relatively low inflationary pressures.
- The data suggests inflation pressures remain mild and the Federal Reserve is expected to maintain current rates while monitoring how tariffs may affect future price trends.
79 Articles
79 Articles
U.S. producer prices rise modest 2.6% in May with inflationary pressures still mild
U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild. The Labor Department reported Thursday that its producer price index…
May Producer Prices Hold Steady Despite Tariff Pressures
The producer price index (PPI)—a measure of prices paid by businesses for goods and services—rose less than expected in May, signaling that tariff-related inflation effects have yet to materialize. According to the Bureau of Labor Statistics, the PPI increased by 0.1 percent last month, following an upwardly revised 0.2 percent decline in the previous month. Goods inflation jumped 0.2 percent, while services rose 0.1 percent. Core producer price…
Wholesale prices in the United States rose modestly last month compared to the previous year, another indication that inflationary pressures remain mild.
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US producer prices rise 2.6% in May with inflationary pressures still mild
The report came out a day after the Labor Department said that consumer prices rose a modest 0.1% last month from April and 2.4% from a year earlier.
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