rate of increase seen in April<\/a>, is the fastest since March 2022. The annual rate is the highest since November 2022.\n <\/p>\n\n PPI, which measures the average change in prices received by US-based producers, serves as a potential bellwether for what consumers could experience in the months to come, though the higher prices businesses pay each other aren\u2019t always fully passed through the supply chain.\n <\/p>\n
\n PPI also is closely watched because several of its categories feed into the Personal Consumption Expenditures price index, the Federal Reserve\u2019s preferred inflation gauge.\n <\/p>\n
\n Economists were expecting PPI to rise 0.6% from April and the annual rate to reach 6.4%.\n <\/p>\n
\n Excluding food and energy prices, a core measurement of PPI rose 0.4% from April, holding at 4.9% annually.\n <\/p>\n
\n When also stripping out the price changes for \u201ctrade services\u201d \u2013 a volatile category that measures profit margins for wholesalers and retailers \u2013 in addition to energy and food, that index rose 0.8% in May (a four-year high) and 5.1% annually, the largest rise since October 2022.\n <\/p>\n
\n Wholesale inflation can eventually impact consumers\u2019 wallets; however, it happens on an indirect and uncertain path, noted Elizabeth Renter, senior economist at NerdWallet.\n <\/p>\n
\n Wholesale goods cross several layers \u2013 transportation, packaging, distribution, etc. \u2013 before hitting retail shelves, she noted.\n <\/p>\n
\n \u201cAnd businesses at both the wholesale and retail level can act as a buffer to consumers, absorbing at least some of the price growth if they\u2019re concerned about their customers\u2019 ability to stomach higher and higher prices,\u201d she wrote in a note on Thursday.\n <\/p>\n
\n That said, \u201cthe latest figures portend some inflationary pressures will continue to weigh on households in the months ahead.\u201d\n <\/p>\n
\n Consumers are already feeling the pinch from the higher cost of gas: In May, elevated prices at the pump helped push overall inflation to a three-year high of 4.2%, according to the latest Consumer Price Index, released Wednesday.\n <\/p>\n
\n This story is developing and will be updated.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Summary US wholesale inflation rose 1.1% in May, driven largely by war-related oil price spikes from Iran. The…\n","protected":false},"author":2,"featured_media":729974,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48],"class_list":["post-729973","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/729973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=729973"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/729973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/729974"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=729973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=729973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=729973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}