The Bureau of Labor Statistics (BLS) reported Tuesday near-record wholesale inflation continuing through May.
The producer price index, a measure of prices paid to goods and services producers, rose 0.8% for the month and 10.8% over the past 12 months. The monthly pace doubled April’s 0.4% rise and was just below the record 11.5% registered in March.
Inflation pressures through the supply chain are not easing, according to BLS.
Goods inputs for Stage 4 intermediate demand, measuring the products purchased by industries primarily producing output sold to final demand, such as RV manufacturers, rose 1.3% in May and rose 11.5% overall in the past 12 months.
Stage 3 intermediate demand, measures suppliers to Stage 4 producers such as RV manufacturers, rose 2.9% in the month and 19.3% overall in the past 12 months.
Stage 2 intermediate demand, suppliers to Stage 3 suppliers, soared 7.5% in the month and 25.6% overall in the past 12 months. The increase is the largest for Stage 2 suppliers since a 26.6% yearly increase for the 12 months ending November 2021.
Stage 1 goods demand rose 2.3% in the month and 16.1% overall in the past 12 months.
