USA: Rise in line with expectations for producer prices in May | Photo credits: Rémi le Bailly
WASHINGTON, June 14 (Reuters) – U.S. producer prices rose month on month in line with expectations, official statistics showed on Tuesday.
The producer price index (PPI) rose 0.8% in May after gaining 0.4% (revised) in April, the Labor Department said. Over one year, its increase was 10.8%, after +10.9% (revised) the previous month.
Economists polled by Reuters on average forecast a rise of 0.8% month-on-month and 10.9% year-on-year.
Excluding energy, food and market services, producer prices increased by 0.5% in May after 0.6% in April, while their annual increase was 6.8% against 6.9 % in April. (Report Lucia Mutikani; French version Claude Chendjou, edited by Sophie Louet)