Inflation softens as energy costs fall in May
The May Producer Price Index shows wholesale prices up 0.7 percent for energy and food, with energy down 3.1 percent from April and gasoline slipping 5.9 percent. Overall 12 month wholesale inflation sits near 3 percent, fueling forecasts of under 5 percent for 1982. Beef, pork, and other goods edged higher while eggs and coffee declined.