May PPI: 1.1% MoM vs 0.7% MoM expected (above expectations)
Producer prices rose 1.1% MoM in May, hotter than the 0.7% Dow Jones consensus, while the 12-month final-demand PPI rate jumped to 6.5%, the highest since November 2022. Energy did most of the damage, with final-demand goods up 2.8% and gasoline up 23.4% at the wholesale level.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Pipeline inflation stayed ugly and broadened beyond one-off noise: headline PPI hit a nearly four-year high, while final demand less food, energy, and trade services rose 0.8%, the biggest monthly gain since March 2022. That keeps the Fed pinned hawkish into the June meeting.
📖 Why This Matters
May PPI flowers: producer prices bloom in unpredictable ways.
May PPI actual vs expected
| Release date | Thursday, June 11, 2026 at 08:30 ET |
|---|---|
| Event type | PPI |
| Actual | 1.1% MoM |
| Expected | 0.7% MoM |
| Prior | 1.1% MoM |
| Expectation surprise | above expectations |
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FAQ
What was the May PPI result?
May PPI came in at 1.1% MoM versus 0.7% MoM expected, above expectations.
How did markets react to May PPI?
Stocks rebounded despite the hot print as AI/chip strength and improved Iran-deal headlines offset rate fears; Nasdaq 100 +0.8%, Dow +0.5%, S&P 500 +0.3%.
🔗 Related Events
January PPI
Hot — headline PPI +0.5% MoM (vs +0.3% expected), driven by services costs surging. Core PPI +3.6% YoY. Tariff passthrough showing up in producer prices.
February PPI
Producer prices jumped 0.7% MoM in February, well above the 0.3% consensus. The yearly pace accelerated to 3.4%, showing pipeline inflation was heating up before second-round war effects fully hit.
March PPI
Producer prices rose 0.4% MoM in March, hotter than the 0.2% consensus, with headline PPI accelerating to 3.5% YoY and core measures staying sticky. The report reinforced the idea that pipeline inflation pressure was still building after the war-driven energy shock.