Dossier
Kurt Rankin
Coverage of Kurt Rankin in the Nexus archive.
- US wholesale inflation rose sharply last month as Iran oil shock continues to drive up business costs
US wholesale inflation, measured by the Producer Price Index (PPI), rose 1.1% in May, pushing the annual rate to 6.5%, the highest since November 2022. The increase is attributed to ongoing business cost pressures from the Iran oil shock, with economists warning of further consumer price hikes as these costs ripple through the supply chain.