U.S. PPI rose 6.5% in May 2026, highest since late 2022
Key takeaways
- Both figures came in above what analysts had anticipated — CNBC noted that Dow Jones consensus called for a 0.7% monthly rise — and the result repeated April s revised 1.1% pace.
- Within goods, energy was the chief culprit, advancing 10.7%; a 23.4% wholesale surge in gasoline alone was responsible for more than half of the goods-category increase.
- Portfolio management fees, which climbed 4.8% during a strong month for equities, were the largest single contributor on the services side.
U.S. PPI rose 6.5% in May 2026, highest since 2022 Quartz · Brandon Bell / Getty Images Cris Tolomia Thu, June 11, 2026 at 7:37 PM GMT+7 2 min read U.S. wholesale prices rose 1.1% in May, pushing the annual producer price index to 6.5% — the largest 12-month increase since November 2022, the Bureau of Labor Statistics reported Thursday.
Both figures came in above what analysts had anticipated — CNBC noted that Dow Jones consensus called for a 0.7% monthly rise — and the result repeated April s revised 1.1% pace. Economists surveyed by FactSet had projected a 0.6% monthly gain and a 6.4% annual rate.
Goods prices for final demand were the dominant driver, posting a 2.8% monthly jump that the BLS said was the steepest since the series launched in December 2009 — accounting for close to four-fifths of the overall PPI gain. Within goods, energy was the chief culprit, advancing 10.7%; a 23.4% wholesale surge in gasoline alone was responsible for more than half of the goods-category increase. Diesel, jet fuel, plastic resins, industrial chemicals, and related petroleum-based products also registered gains.