Amazon.com's advertising rates jumped more than 50% in May from a year earlier, signaling the online retailer's rising profitability should continue through busy periods like its upcoming summer sale Prime Day and the holiday shopping season. The rise in ad rates, reported by industry researcher Marketplace Pulse, may give lawmakers and regulators momentum in their effort to require Amazon to pay higher taxes and push merchants on the e-commerce platform to raise prices at a time they are grappling with higher shipping costs and other inflationary pressures. The pandemic-fueled surge in online shopping has triggered greater advertising competition on Amazon, where global shoppers will spend an estimated $578 billion this year, according to EMarketer Inc. Big brands like Procter & Gamble Co. and Clorox Co. are bringing billion dollar advertising budgets to Amazon to maintain their dominance as sales shift from stores to websites.

— Bloomberg News