Producer Prices Increase More Than Expected

Washington, DC, June 14, 2011 — Producer prices rose more than expected in May, according to the Labor Department, but the rate of increases eased.

The government said producer prices climbed 0.2%, double what analyst forecast, but down from April’s 0.8% increase.

Compared to a year ago, prices rose 7.3%, the largest rise since September 2008.

Excluding food and energy, wholesale prices jumped 0.2%, while year-on-year core inflation remained at 2.1%, its highest since August 2009.