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Inflation indicator sees biggest jump on record

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(CNN) -- Another key indicator of inflation suggests it's on the rise, in a big way.

The Producer Price Index, which tracks how much money domestic producers get for their products, jumped 0.8% in May.

Put together with the previous eleven months, it amounts to a 6.6% rise since last May. That's the largest 12 month increase on record since 2010.

Even when adjusted to remove more volatile prices, like food and energy, it still equals a record 5.3% spike.

Economists say it's due to rising demand from the economy re-opening and shortages in supply chains.

For you, it means you're paying more for just about everything.

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