The Producer Price Index for May came in at 10.8 percent.
That was within market expectations, after last month’s reading of 11 percent, but when you break down the numbers month over month, costs went up 0.8 percent. That is double the increase for April.
The Producer Price Index measures the increase in prices for the wholesaler. It is a leading indicator, meaning the increases have not yet been passed along to the consumer.
Related:
Producer Price Index is up 11%; inflation is not stopping
Consumer Price Index sees significant unexpected jump as farmers were hoping inflation had peaked
Inflation Relaxation: food prices are easing slightly after record highs
