Friday, June 14, 2013

Producer Prices Rose 0.5% in May

Producer prices increased in May and rose to 0.5%, following two months of decline. Producer prices are up 1.8% over year ago levels. The gain was driven primarily by higher gasoline and good prices. Core prices improved 0.1% in May.

Prices for finished energy goods rose sharply, improving 1.3% from the previous month, reversing a two month decline. Higher gasoline prices largely contributed to the gain. Food prices increased 0.6% in May.

The price of crude goods increased 2.2% in May. Crude prices improved 7.6% over year ago levels. However core crude goods fell 2.3% and is 6.3% lower over year ago levels.

Read the BLS report.

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