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.
On an annual basis, the index was up 6%, the biggest gain since December 2022.
This is breaking news. Please refresh for updates.
Source link
