Yahoo Finance

Wholesale inflation spikes 6.5%: Are oil prices moving on Iran escalations?

May's Producer Price Index (PPI) report saw wholesale inflation rise by 1.1% monthly while headline prices climbed by 6.5% annually. Morning Brief Host Julie Hyman is joined by Yahoo Finance Tech Editor Dan Howley and Monetary Matters Network co-founder Jack Farley for a conversation about how the ongoing conflict between the US and Iran is feeding into inflation and oil (CL=F, BZ=F) price trends. This follows Wednesday's release of the Consumer Price Index report for May, which saw consumer prices rise at the fastest rate since May 2023. The 4.2% annual rise in CPI inflation was in line with expectations; however, the hot reading may boost bets that the Federal Reserve will hike interest rates this year.