The Producer Price Index (PPI) increased by 6.5% in May

Inflation outpaces wage growth for a second consecutive month, which could weigh on overall economic growth

Consumers and U.S. workers are feeling the pinch of a wage growth rate that lags behind the rate of inflation.

US inflation climbed to a fresh three-year high in May, driven largely by rising energy prices linked to global supply disruptions following the Iran conflict, according to…