June 12 (UPI) -- Wholesale U.S. inflation measured by the PPI inched up 0.1% in May, according to a Thursday report from the Bureau of Labor Statistics.
It shows no inflation surge yet from tariffs and was lower than Wall Street economists forecast. Both May PPI and core PPI excluding food and energy rose 0.1% in May.
The BLS said the May PPI increase was "led by prices for final demand services, which advanced 0.1%."
"The Producer Price Index for final demand advanced 0.1% in May, seasonally adjusted," the BLS said in a statement. "Final demand prices declined 0.2% in April and 0.1% in March. On an unadjusted basis, the index for final demand rose 2.6% for the 12 months ended in May."
Core annual PPI was 2.7%.
