WASHINGTON, June 14 (Xinhua) -- The U.S. Labor Department reported on Tuesday that producer prices surged 10.8 percent year on year in May, the latest sign of mounting inflation pressure, which could prompt the Federal Reserve to raise rates more aggressively.
The producer price index (PPI) for final demand in May rose 0.8 percent, following advances of 0.4 percent in April and 1.6 percent in March, according to the department's Bureau of Labor Statistics.
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