The difference being the 9% was a global phenomenon due to the post COVID supply chain disruption. This inflation is solely due to trump's policies.
Wholesale prices rose 1.1% in May, more than expected
Wholesale prices rose more than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported Thursday.
The producer price index, a measure of final demand costs, increased a seasonally adjusted 1.1% on the month, putting the 12-month wholesale inflation rate at 6.5%. Economists surveyed by Dow Jones had been looking for a monthly move of 0.7%.
The annual headline inflation rate was the highest since November 2022.
The producer price index was expected to increase 0.7% in May, according to the Dow Jones consensus forecast.
www.cnbc.com
- The European Central Bank is set to raise rates as President Christine Lagarde tackles persistent inflation.
- Higher energy prices have driven inflation across the euro zone higher.
- U.S. CPI accelerated at its fastest pace in three years.
The European Central Bank is expected to make its first interest rate hike in nearly three years amid increasing inflationary pressure due to the Iran war.
www.cnbc.com