Wholesale inflation in May hit highest level since November 2022 on soaring energy costs
Inflatie
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. The Producer Price Index rose 6.5% in May over the past 12 months, the Bureau of Labor Statistics said Thursday – the fastest rate since hitting 7.4% in 2022 amid higher energy costs and supply chain snags. Over the month, the PPI soared 1.1%, matching its April increase and surpassing
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