The rise in wholesale prices in the United States accelerated in May over one month, due to energy prices, however slowing down a little over one year, according to the producer price index (PPI) published on Tuesday, measurement of inflation on the manufacturer’s and seller’s side. Prices rose by 0.8% over one month, against 0.4% in April, and, over one year, by 10.8% against 10.9%. The April increase was also a little lower than initially announced, according to revised data, also published on Tuesday.
“Almost two-thirds of the increase» are due to the increase in the prices of goods (+1.4%), which itself is due to 70% to the rise in energy prices, specifies the Department of Labor in a press release. The prices of services recorded a weaker increase (+0.4%). “Any lasting moderation (in price increases) will only come gradually in the second half of the yearsaid Mahir Rasheed, an economist for Oxford Economics. These figures are published four days after those of the consumer price index (CPI), which is the benchmark for measuring inflation and on which pensions are indexed in particular. CPI data released last Friday showed inflation picking up again in May after slowing in April, even hitting a new 40-year high of 8.6%.
The PPI index is a measure of inflation that takes into account prices from the point of view of manufacturers and sellers. The PCE and CPI consumer price indices measure price developments on the consumer side. The American central bank (Fed) will hold a monetary policy meeting on Tuesday and Wednesday, during which it could resort to the largest increase in key rates since 1994, in the face of this increase in inflation in the United States.