U.S. producer prices rose for a second straight month in May as the cost of energy products and services increased, but the lingering effects of a strong dollar and lower energy prices will likely keep inflation tame for a while.
The Labor Department said on Wednesday its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in April. In the 12 months through May, the PPI slipped 0.1 percent after being unchanged in April.
Economists polled by Reuters had forecast the PPI gaining 0.3 percent last month and slipping 0.1 percent from a year ago.
