Producer prices in May make biggest jump since 2003

Producer prices in May leapt by 7.5%, the biggest year-on-year jump since January 2003, national statistics bureau Istat reported on Monday.

Compared to April, producer price climbed 1.5%, the biggest monthly gain since January 2003, when the current index was last set.

Industrial producer prices were 4.6% higher than May 2007, while for the first five months of the year they jumped 6.4% over the same period last year.

Istat confirmed that the spikes were for the most part due to the energy sector, where the soared 21.5% over May 2007, the biggest year-on-year jump since May 2006.