US wholesale inflation slips more than expected in May amid drop in energy
By Alexander Bueso
Date: Wednesday 14 Jun 2023
(Sharecast News) - Wholesale prices declined by more than anticipated last month amid a retreat in energy and food prices.
According to the US Department of Labor, in seasonally adjusted terms, in May so-called final demand prices dropped at a month-on-month pace of -0.3% (consensus: -0.1%).
That saw the year-on-year rate of increase slow from 2.3% in April to 1.1% for May.
Among goods, energy prices fell by 6.8% on the month and those for food by 1.3%.
Services prices on the other hand rose by 0.2% in comparison to April, propped up by a 1.0% in trade services pricing, which includes retailers' margins.
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