PPI, a measure of the prices paid to producers of goods and services, jumped in line with Dow Jones estimates and doubled the 0.4% pace in April.
Excluding food, energy and trade services, the so-called core PPI rose 0.5% in May, below the 0.6% estimate but increased from the 0.4% reading in the previous month.
The core measure was up 6.8%, matching April’s gain from a year earlier.
The two PPI readings remained near their historic highs hit in March — 11.5% for headline, and 7.1% for core.
The data is vital as the wholesale prices will reflect on consumer prices, which increased 8.6% annually in May and have been running at their highest levels since December 1981.
Prices of final demand goods moved up 1.4% in the month, the fifth consecutive rise, primarily due to the jump in energy demand by 5%.
Within that energy gain, gasoline rose 8.4%, while multiple other fuel categories pushed higher.