News & Insights
Inflation Moves Higher as Energy Costs Keep Climbing
In May, consumer prices increased 0.5% from April and 4.2% over the year, up from the 3.8% annual rise in April and the greatest over-the-year increase since April 2023. Core CPI, which excludes more volatile energy and food prices, rose 0.2% from April and 2.9% over the year, up slightly from the 2.8% 12-month increase …
Producer Prices Climb as Goods Costs Soar
The Producer Price Index for final demand (also known as wholesale prices) rose 1.1% over the month in May, a similar increase to April. Over the year, producer prices jumped 6.5%, up from the 5.7% gain in April and the largest 12-month increase since November 2022. Meanwhile, prices for final demand excluding foods, energy and …
Small Business Optimism Softens as Taxes and Labor Costs Weigh
The NFIB Small Business Optimism Index stepped down 0.6 points to 95.3 in May, remaining below the 52-year average of 98. May’s decline was due to a weakening of the labor components, though partially offset by improvements in earnings trends and inventory plans. Of the 10 components included in the index, three increased, six decreased …
Rising Input Costs Top Manufacturers’ Concerns in Q2 Survey
Washington, D.C. – Manufacturers are reporting increased raw material costs as the top business challenge facing them, jumping 25.6 percentage points from 57.5% in the first quarter to 83.1% in the second quarter, according to the National Association of Manufacturers’ Q2 Manufacturers’ Outlook Survey. This shift comes as the conflict in the Middle East puts …
