Labor

Wholesale Prices Keep Climbing as Trump's Promise to Lower Costs Falls Apart

The Producer Price Index rose 1.1% in May, matching a 1.1% jump in April. Over the past 12 months, producer prices have risen 6.5%, the largest annual increase since November 2022. It marks the fourth straight month that annual wholesale inflation has accelerated. The surge was driven overwhelmingly by rising energy costs generated by Trump’s war of choice with Iran. Wholesale energy prices rose 10.7% in a…