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U.S. wholesale inflation surges again, continuing to put pressure on businesses and the economy

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Gold Financial reports that on June 11th, the wholesale prices in the United States for May experienced the largest consecutive increase since 2022, putting greater pressure on businesses while they are also working to cope with a new round of American inflation. Data shows that last month, the Producer Price Index (PPI) rose by 1.1% month-over-month, exceeding market expectations of 0.7%. Over the past 12 months, wholesale prices increased by 6.5%, marking the largest annual gain since the end of 2022. Despite rising costs, companies have not yet attempted to pass all these additional expenses onto customers, who, after experiencing high inflation for five years, have shown resistance to paying more. However, part of the increase in wholesale prices will inevitably be passed on to consumers. Wholesale prices are among the first indicators of inflation, often signaling future changes in consumer prices. Steve Rick, Chief Economist at financial services provider TruStage, said, “Inflation is becoming increasingly difficult to fully eliminate. Although prices have retreated from their peaks, companies still face rising costs in labor, transportation, and energy, some of which will ultimately be passed on to consumers.”
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