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Financial News: U.S. Producer Prices Climb More Than Expected In

U.S. Producer Prices Climb More Than Expected In May

06/13/2018 - 08:38:00 (RTTNews)

(RTTNews) - Reflecting a sharp jump in energy prices, the Labor Department released a report on Wednesday showing a bigger than expected increase in U.S. producer prices in the month of May.

The Labor Department said its producer price index for final demand climbed by 0.5 percent in May after inching up by 0.1 percent in April. Economists had expected producer prices to rise by 0.3 percent.

Excluding food and energy prices, core producer prices rose by 0.3 percent in May after edging up by 0.2 percent in April. Core prices had been expected to show another 0.2 percent increase.

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