Economic news

U.S. producer prices grow on surging gasoline

Producer prices in the U.S. rose exceeding forecasts last month, which becomes a record yearly growth in almost 6 years and a half, though producer inflation behind that stayed mild.

Producer price index for final demand by the Labor Department that has been reported today added 0.5% in May, caused by a vault of gasoline prices and extended growth of prices on services. April’s uptick in the PPI made up 0.1%.

During the 12-month period through May the PPI climbed 3.1%, the biggest increase since the start of 2012. April’s figures marked 2.6% gain of producer prices year-on-year.

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