Key facts
- US wholesale inflation increased to 6.5% year-over-year in May.
- Higher energy prices were the main contributor to the inflation surge.
- The conflict in the Mideast Gulf is cited as the cause of the energy price spike.
US wholesale inflation experienced a significant increase, reaching an annual rate of 6.5% in May. This surge was primarily fueled by a sharp rise in energy prices, which the report links to the ongoing conflict in the Mideast Gulf. The article was authored by Bob Willis.