U.S. PPI for final demand rises 1.1% in May, driven by goods and energy

The U.S. Bureau of Labor Statistics reported that the Producer Price Index for final demand rose 1.1 percent in May, seasonally adjusted. On an unadjusted basis, the index increased 6.5 percent for the 12 months ended in May, the largest 12-month rise since November 2022. The advance was primarily due to a 2.8-percent increase in final demand goods, largely attributed to a 10.7-percent jump in final demand energy prices, including a 23.4-percent increase in gasoline. Final demand services rose 0.3 percent, led by a 4.8-percent rise in portfolio management prices.