U.S. Producer Prices Rise Slightly More Than Expected In May

(RTTNews) - Producer prices in the U.S. rose by slightly more than anticipated in the month of May, according to a report released by the Labor Department on Friday, with the price growth reflecting a substantial rebound in energy prices.

The Labor Department said its producer price index for final demand rose by 0.5 percent in May following a 0.4 percent drop in April. Economists had expected prices to increase by 0.4 percent.

Excluding food and energy prices, core producer prices inched up by 0.1 percent in May after falling by 0.2 percent in the previous month. The modest uptick in core prices matched economist estimates.