May Inflation Surprise: Hot CPI and PPI Reports Raise the Risk of Stagflation
This week’s inflation data sends a clear and sobering message: inflation is proving more persistent than many policymakers and investors anticipated. In May 2026, the Producer Price Index (PPI) climbed 6.5% year-over-year, with Core PPI (excluding food and energy) rising 5.2%. Even PPI excluding trade services remained elevated, underscoring inflationary pressures spreading through supply chains…
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