US Producer Prices Climb More Than Expected on Energy Surge

10:58 AM EDT, 06/11/2026 (MT Newswires) -- US producer prices rose more than projected in May, matching April's pace, while the annual increase reached the highest since late 2022 amid surging energy costs.

The producer price index increased 1.1% on a seasonally adjusted basis, unchanged from April's downwardly revised 1.1% gain, the Bureau of Labor Statistics reported Thursday. Wall Street expected a 0.7% gain, according to a Bloomberg survey.

Wholesale goods prices last month rose 2.8%, the largest increase since the data series began in December 2009, with 80% of the advance attributable to an 11% jump in energy prices.

Within goods, gasoline prices surged 23% after a 15% gain in April. Food prices increased 0.6% following a 0.2% gain in the prior month.

Prices of final demand services rose 0.3% in May after a 0.7% increase in April.

On an unadjusted basis, the producer price index climbed 6.5% from a year earlier, the largest 12-month increase since November 2022 and exceeding the consensus for a 6.4% gain.

On Wednesday, consumer price data showed inflation accelerating to the fastest pace in about three years, reinforcing expectations that the Federal Reserve will keep interest rates on hold.

Markets widely expect the US central bank's Federal Open Market Committee to leave interest rates unchanged at next week's monetary policy meeting, which would mark a fourth straight pause, according to the CME FedWatch tool.

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