US producer prices (the inputs to everything) are increasing at the fastest pace since 2022.

Wholesale inflation surges again, keeping pressures on businesses

“Wholesale prices in May posted the biggest back-to-back increase since 2022, keeping the pressure on businesses as they try to navigate another wave of U.S. inflation.

The producer-price index climbed 1.1% last month to match the increase in April, the government said Thursday. Wall Street had forecast a 0.7% increase.”

h/t SignificantLegs