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US producer prices spike in May as soaring energy prices fuel largest yearly jump since 2022
US producer prices rose 6.5% annually in May 2025, driven by energy price surges linked to the Iran war, marking the largest yearly jump since 2022. Core wholesale prices increased 4.9% year-over-year, with inflation outpacing the Federal Reserve's 2% target and potentially prompting interest rate hikes later in the year.
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- US producer prices spike in May as soaring energy prices fuel largest yearly jump since 2022
- Producer prices shot up 6%, adding to pressure on companies to raise prices for customers
- US Producer Prices Climb by Most Since 2022
- Inflation surges to highest level in nearly two years as energy costs spike
- Wholesale inflation jumps 6% in April on annual basis, biggest increase since 2022