Wholesale prices in the US continued to rise at an explosive rate, as after the jump of 8.6% in consumer prices on Friday, today it was announced that the producer price index accelerated to 10.6% in May.
In particular, as announced by the US statistical authorities, producer prices showed a monthly increase of 0.8% in May and 10.8% compared to the same period last year.
It is noted that the monthly increase was in line with the estimation of analysts, who expected an acceleration of 0.8%, but also double the corresponding 0.4% that had preceded in April.
Excluding volatile energy and food prices, in the so-called building block of the index, wholesale prices accelerated by 0.5%, slightly lower than analysts’ estimates of 0.6% but also faster than last month’s 0.4% .
On an annual basis, the structural index of producer prices moved in May by 6.8%, remaining at the same levels as in April.
In any case, both the broader and the structural wholesale price index remained close to the historically high levels of 11.5% and 7.1%, respectively, recorded in March, raising concerns about more aggressive action by the Fed.
Source: Capital
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