Prices Keep Climbing Amid Rising Energy Costs

Inflation’s grip tightens as new data reveals soaring prices for businesses, likely headed straight to your wallet. The producer price index jumped 1.1% in May — a 6.5% surge from last year, the highest since November 2022 — with energy costs, especially gas, skyrocketing 23% from April to May. That spike ripples through the economy, raising shipping, manufacturing, and retail costs. With consumer inflation already at 4.2%, wages lagging, and Americans draining savings and credit cards, financial stress is mounting. The Fed will weigh this data next week as they decide on interest rates — holding steady now, but possibly hinting at future hikes. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bf75ff1d624bb52c