Wholesale prices in April rose the most in three years, signaling more nettlesome inflation as pipeline costs intensify.
The producer price index rose a seasonally adjusted 1.4% for the month, much higher than the 0.5% Dow Jones consensus forecast and the upwardly revised 0.7% March increase, the Bureau of Labor Statistics reported Wednesday
This was the largest monthly gain since March 2022. On an annual basis, the index was up 6%, the biggest increase since December 2022. Excluding food and energy, core PPI accelerated 1%, compared to the 0.4% estimate.
Excluding food, energy and trade services, PPI rose 0.6 %. This is breaking news. Please refresh for updates