US producer prices up by 0.5% in May

Economy 6/13/2018, 2:32 PM
US producer prices up by 0.5% in May

The Producer Price Index (PPI) for final demand in the United States gained 0.5% in May compared to the previous month, according to a report published by the US Bureau of Labor Statistics of Wednesday. On an unadjusted annual basis, producer prices rose 3.1% last month compared to the previous 12-month period.

The index was pushed up by prices for final demand services which grew by 0.3% in May and contributed to 60% of the increase while final demand goods were also up by 1%.

Prices for final demand excluding foods, energy, and trade services rose slightly by 0.1% last month and 2.6% year on year, the same as April.

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