US producer prices post another solid rise
Trade tension, slowing growth and drop in hiring fuel market expectations of two rate cuts by year's end
11 June 2019 - 17:50
Washington – US producer prices rose solidly in May for a second month running, boosted by a surge in the cost of hotel accommodation and gains in a range of other services, pointing to a steady pickup in underlying inflation pressures.
The labour department said on Tuesday that producer prices excluding food, energy and trade services rose 0.4% last month, matching April’s gain. The core producer price index (PPI) rose 2.3% in the 12 months through May after rising 2.2% in April...
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