Producer Prices Rise 0.3% in May
The Producer Price Index for Finished Goods rose 0.2% in May, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This increase followed a 0.9% jump in April and a 0.5% advance in March. At the earlier stages of processing, prices received by manufacturers of intermediate goods climbed 1.1% in May after rising 0.9% in the preceding month, while the crude goods index moved up 2.0% following a 1.2% gain in April.
Most of the deceleration in the finished goods index can be traced to prices for energy goods, which slowed to a 0.4% increase in May after advancing 4% in April. Prices for finished consumer foods turned down 0.5 % following a 0.1% gain in the prior month. Alternatively, the index for finished ...