US May PPI Jumps 1.1% Month Over Month, Biggest Rise Since 2022

US wholesale prices rose 1.1% in May from April, above the 0.7% forecast and the largest monthly gain since 2022. Over the past 12 months, the Producer Price Index increased 6.5%, the biggest annual rise since late 2022. TruStage chief economist Steve Rick said inflation is proving harder to fully eliminate.