US: PPI for final demand rose 0.5% in May to surpass the market expectation of 0.3%

"The Producer Price Index for final demand rose 0.5 percent in May, seasonally adjusted," the U.S. Bureau of Labor Statistics reported on Wednesday.

Key takeaways from the official publication

• Final demand prices advanced 0.1 percent in April and 0.3 percent in March.
• On an unadjusted basis, the final demand index moved up 3.1 percent for the 12 months ended in May, the largest 12-month increase since climbing 3.1 percent in January 2012.
• The index for final demand services moved up 0.3 percent.
• The index for final demand goods moved up 1.0 percent in May, the largest advance since a 1.1-percent rise in May 2015.