US producer prices rose in May on the back of rising energy prices. The data shows that inflation remains low, since an overall weak demand limits the potential increase in prices.
As disclosed by the US Department of Labor, the index rose by 0,5%, while analysts were expecting a 0,1% increase after the fall of 0,6% in April. Compared to the same period last year, the increase is 1,7%.
The "core" component - the one purged of the more volatile components represented by the prices of food and energy goods - grew by 0,1%, in line with forecasts.
The increase in energy prices, which rose by 1,3% driven by the rise in petrol prices, had an impact. Food prices rose 0,6%, after falling 0,8% the previous month (it should be noted that the cost of eggs jumped 41,6%, the highest on record). The prices of raw materials rose by 2,2% and those of semi-finished products fell by 0,1%.
