PPI inflation rate rises to 6.5% in May, reaching a new high since November 2022

The PPI inflation rate rose to 6.5% in May, higher than the expected 6.4%, reaching the highest level since November 2022. The core PPI inflation rate is 4.9%, unchanged from the revised level in April. The PPI inflation rate has reached the level of the epidemic stimulus measures period, and the possibility of interest rate hikes has increased.