Economic Trends

Key Inflation Indicator Hits Record High

The U.S. producer price index has long served as a key indicator of inflation pressures. This index tracks the average change in the prices for what producers get for their products and the services they offer.

Between May 2020 and May 2021 producer prices increased 6.6%—that’s the largest jump recorded since the Bureau of Labor Statistics started collecting this data. Prices for processed and unprocessed goods also saw their biggest jumps in the 12 months ending in May, due to higher input costs and a dearth of materials worldwide.

Processed ...