2026年6月11日 美国东部时间上午10:45 / 哥伦比亚广播公司新闻
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受伊朗战争推高能源价格影响，美国企业面临的通胀在5月飙升至2022年11月以来的最高水平。
美国劳工部周四公布的数据显示，衡量消费者通胀前通胀水平的生产者价格指数（PPI）5月同比上涨6.5%。环比来看，生产者价格指数较4月上涨1.1%，增速高于金融数据公司FactSet调查的经济学家此前预测的0.6%。
这份高于预期的数据公布前一天，美国5月消费者价格指数（CPI）同比上涨4.2%，为三年多以来的最快增速。尽管生产者价格指数不会直接反映消费者价格变动，但如果企业将成本转嫁到顾客身上，就可能推高整体通胀水平。
汽油价格持续高位运行，该数据凸显了美国今年通胀前景的显著转变。通胀反弹也可能让美联储维持现有货币政策，一些华尔街经济学家猜测，政策制定者加息的可能性大于降息。
市场普遍预计美联储将在6月16日至17日的下次会议上维持利率不变，官员们将密切关注最新通胀数据。
NerdWallet高级经济学家伊丽莎白·伦特在电子邮件中表示：“在制定货币政策方向时，美联储将今日的批发通胀数据作为整体拼图中的一环。本周公布的消费者和批发通胀数据提高了未来几个月加息的可能性，但美联储很可能会再等一个月才会采取行动。”
生产者价格指数数据显示，批发汽油价格从4月到5月上涨超过23%，同比涨幅接近70%。尽管6月汽油价格略有回落，但最新的PPI报告并未体现这一变化，因为该报告统计的是上月数据。
剔除波动较大的食品和能源价格后，所谓的核心批发价格5月环比上涨0.4%，同比2025年5月上涨4.9%。
批发价格可以提前反映消费者通胀的走向。经济学家也关注该指数，因为其部分组成部分，尤其是医疗保健和金融服务，会被纳入美联储青睐的通胀衡量指标——个人消费支出（PCE）指数。
牛津经济研究院美国经济学家格蕾丝·兹默在一份研究报告中表示：“结合5月CPI和PPI数据，我们的PCE追踪预测显示，5月整体价格将上涨0.5%，核心价格将上涨0.3%。这仍将推动整体PCE指数升至4.2%，为2023年4月以来的最高水平。”
编辑：阿兰·谢特
本文由美联社协助报道。
Wholesale prices see biggest spike since 2022 as energy costs climb
June 11, 2026 10:45 AM EDT / CBS News
By
Inflation facing U.S. businesses surged in May to its highest level since November 2022 amid higher energy prices stemming from the Iran war.
The Producer Price Index, which registers inflation before it reaches consumers, soared 6.5% in May from a year ago, the Labor Department reported on Thursday. On a monthly basis, the PPI rose 1.1% from April, a faster pace than the 0.6% increase forecast by economists polled by financial data firm FactSet.
The hotter-than-expected reading comes a day after the Consumer Price Index surged in May to an annual rate of 4.2%, its fastest pace in more than three years. Although the PPI doesn’t directly signal changes in consumer prices, it can feed into broader inflation if businesses pass those costs on to customers.
The data underscores the stark shift in the nation’s inflation outlook this year, with gasoline prices remaining sharply elevated. Resurgent inflation is also likely to keep the Federal Reserve on the sidelines, with some Wall Street economists speculating that policy makers are more likely to hike interest rates than to cut them.
The Fed is widely expected to hold interest rates steady at its next meeting, scheduled for June 16-17, as officials monitor the latest inflation data.
“When determining the direction of monetary policy, the Fed looks to today’s wholesale inflation figures as one piece in the larger puzzle,” said Elizabeth Renter, senior economist at NerdWallet, in an email. “The likelihood of a rate hike in the coming months has increased with this week’s consumer and wholesale inflation data, but the Fed will most likely wait another month before taking that step.”
Wholesale gasoline prices surged by more than 23% from April to May, and by nearly 70% from the year-ago period, the PPI data showed. Gas prices have edged down in June, though the latest PPI report doesn’t reflect this because it captures data from the prior month.
Excluding volatile food and energy prices, so-called core wholesale prices rose 0.4% in May from the previous month and 4.9% from May 2025.
Wholesale prices can offer an early look at where consumer inflation might be headed. Economists also watch it because some of its components, notably health care and financial services, flow into the Fed’s preferred inflation gauge — the Personal Consumption Expenditures, or PCE, index.
“With both the May CPI and PPI data in hand, our PCE tracking nowcast points to a 0.5% rise in headline prices, and a 0.3% rise in core prices in May,” Oxford Economics U.S. economist Grace Zwemmer said in a research note. “This would still push headline PCE up to 4.2%, its hottest reading since April 2023.”
Edited by Alain Sherter
The Associated Press contributed to this report.
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