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Economy

“Wholesale prices rose 10.8% in May, near a record annual pace”

“…The producer price index, a measure of the prices paid to producers of goods and services, rose 0.8% for the month and 10.8% over the past year. The monthly rise was in line with Dow Jones estimates and a doubling of the 0.4% pace in April.

Excluding food, energy and trade, so-called core PPI rose 0.5% on the month, slightly below the 0.6% estimate but an increase from the 0.4% reading in the previous month. On a year-over-year basis, the core measure was up 6.8%, matching April’s gain…

The data is significant in that prices at the wholesale level feed through to consumer prices, which are running at their highest levels since December 1981…”

https://www.cnbc.com/2022/06/14/wholesale-prices-rose-10point8percent-in-may-near-a-record-annual-pace.html 

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