Wholesale Inflation Surges Again And Keeps The Pressure On Businesses And The U.S. Economy

U.S. wholesale inflation surged 1.1% in May for the second consecutive month, pushing the annual Producer Price Index to 6.5%, its highest level since late 2022 and above economists’ expectations. Rising energy costs and broader price pressures are increasing expenses for businesses, raising concerns that companies may eventually pass those higher costs on to consumers and keep inflation elevated.