Wholesale prices rose 1.1% in May, more than expected, on surge in energy
Source: CNBC
Published Thu, Jun 11 2026 8:33 AM EDT Updated 2 Min Ago
Wholesale prices rose more than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported Thursday. The producer price index, a measure of final demand costs, increased a seasonally adjusted 1.1% on the month, putting the 12-month wholesale inflation rate at 6.5%. Economists surveyed by Dow Jones had been looking for a monthly move of 0.7%.
The annual headline inflation rate was the highest since November 2022. The monthly gain matched the April increase. However, excluding food and energy, so-called core PPI accelerated 0.4%, compared to the consensus view of 0.5%, indicating that rising fuel prices are causing much of the inflationary burden.
Taking out food, energy and trade services, PPI accelerated 0.8%, the biggest one-month move since March 2022. On a 12-month basis, the core excluding trade services rose 5.1%, the most since October 2022.
Most of the acceleration in the PPI — nearly 80% — came from a 2.8% surge in final demand goods prices, the biggest increase ever in a data series going back to December 2009. In turn, 80% of that increase came from a 10.7% jump in energy. Gasoline prices rose 23.4% at the wholesale level, the BLS said.
Read more: https://www.cnbc.com/2026/06/11/producer-price-index-may-2026-.html
From the source -
Link to tweet
@BLS_gov
PPI for final demand advances 1.1% in May; goods rise 2.8%, services increase 0.3% bls.gov/news.release/p... #PPI #BLSdata
12:32 PM · Jun 11, 2026
Article updated.
Previous article/headline -
Published Thu, Jun 11 2026 8:33 AM EDT Updated 3 Min Ago
Wholesale prices rose more than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported Thursday.
The producer price index, a measure of final demand costs, increased a seasonally adjusted 1.1% on the month, putting the 12-month wholesale inflation rate at 6.5%. Economists surveyed by Dow Jones had been looking for a monthly move of 0.7%.
The annual headline inflation rate was the highest since November 2022. The monthly gain matched the April increase. However, excluding food and energy, so-called core PPI accelerated 0.4%, compared to the consensus view of 0.5%, indicating that rising fuel prices are causing much of the inflationary burden.
Taking out food, energy and trade services, PPI accelerated 0.8%, the biggest one-month move since March 2022. On a 12-month basis, the core excluding trade services rose 5.1%, the most since October 2022.
Original article -
Wholesale prices rose less than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported Thursday.
The producer price index, a measure of final demand costs, increased 1.1% on the month, putting the 12-month wholesale inflation rate at 6.5%. Economists surveyed by Dow Jones had been looking for a monthly move of 0.7%.
However, excluding food and energy, so-called core PPI accelerated 0.4%, compared to the consensus view of 0.5%, indicating that rising fuel prices are causing much of the inflationary burden.
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= new reply since forum marked as read
I'll add more info later after I read the news summary at
https://www.bls.gov/news.release/ppi.nr0.htm
PPI data series (yes, it has food & energy included in it) :
http://data.bls.gov/timeseries/WPSFD4
Core PPI data series (without food nor energy nor trade services) :
http://data.bls.gov/timeseries/WPSFD49116
This is the "Core" that the BLS highlights, since they want an underlying trend without the volatile month-to-month components, as a better predictor of FUTURE inflation. Trade services is very volatile, for example trade services INCREASED 1.3% in April, and DECREASED 1.1% in May. From Table A in https://www.bls.gov/news.release/ppi.nr0.htm
As always, I prefer to show everything annualized so as to compare to the Fed's 2% goal and to each other.
Numbers are calculated from the actual 6-digit index values, not from grinding together heavily-rounded numbers. For the PPI, typically they update the 4 previous index values as well as adding the new one for the latest month. I update all of that too in my spreadsheet.
Regular PPI (includes food & energy & trade services)
Red line indicates the Federal Reserve's 2.0% inflation target
CORE PPI (EXcludes food & energy & trade services)
Red line indicates the Federal Reserve's 2.0% inflation target
Percent increases over the past month, over the past 3 months, and over the past 12 months, seasonally adjusted numbers, ANNUALIZED
1 mo `3 mo `12mo
----- ----- -----
13.4% 12.1% 6.4% Regular PPI (includes food & energy)
10.7% `6.5% 5.1% Core PPI (does not have food nor energy nor trade services)
2.0% 2.0% 2.0% Federal Reserve Target
backquote symbols (`) added for spacing. Please try to ignore them
since he loves inflation.
