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Wholesale inflation in May hit highest level since November 2022 on soaring energy costs
Wholesale inflation in May reached the highest level since November 2022 due to soaring energy costs. The unexpected rise in the PPI report is likely to delay the Fed's interest rate cuts.
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Adjacent reporting
- US inflation hits highest level in three years
- Energy cost spike from Iran war sends inflation soaring to highest level in nearly 3 years
- Inflation spiked to 4.2%, a three-year high, in May
- Searing U.S. energy prices are driving the hottest inflation in years
- Inflation spiked to 4.2%, a three-year high, in May