Producer Price Index Rises 0.2% in May

The producer price index rose 0.2% in May, the Labor Department said Tuesday.

That compared with the 0.1% median estimate of economists, Bloomberg reported.

The so-called core PPI, which excludes food and energy costs, climbed 0.2%, matching projections.

Food prices decreased 1.4% while fuel costs jumped 1.5%, led by a 2.7% surge in gasoline prices.

An increase in the PPI could indicate strong demand for goods, which would mean more shipments for trucking companies. However, if inflation begins to accelerate too quickly, it could also hurt the economy.