https://cdnph.upi.com/ph/st/th/6581781186071/2026/upi/b38f88c842450582741861f6027667cf/v1.5/Wholesale-inflation-surged-11-in-May-more-than-expected.jpg" /> The producer price index increased by 1.1% in May, pushing annual wholesale inflation to 6.5%, the Bureau of Labor Statistics reported Thursday.