US producer prices spike in May as soaring energy prices fuel largest yearly jump since 2022 - AP News
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- US producer prices spiked in May, with soaring energy prices driving the largest yearly increase since 2022.
- Wholesale prices rose 1.1% in May, exceeding expectations due to a surge in energy.
Why it matters: Higher producer and wholesale prices raise input costs for manufacturers and retailers, tightening profit margins and intensifying inflationary pressure across the economy, eroding purchasing power for households and straining corporate earnings, while highlighting the outsized impact of energy price volatility on overall price stability.
