WASHINGTON (AP) — Wholesale prices, boosted by rising food costs, increased 0.8% in May, and are up by a record amount over the past year, another indication that inflation pressures are rising since the economy has begun to re-open following the pandemic lockdowns. The Labor Department reported Tuesday that the monthly gain in its producer price index, which measures inflation pressures before they reach consumers, followed a 0.6% increase in April and a 1% jump in March. Food prices rose a hefty 2.6% while energy costs were up 2.2%. Over the past 12 months, wholesale prices are up 6.6%, the largest 12-month increase on records going back to 2010.
