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Wholesale inflation jumps 6% in April on annual basis, biggest increase in four years
- U.S. wholesale inflation rose 6% annually in April, the largest increase since December 2022, driven by higher energy prices linked to the 10-week Iran war.
- In April, the Producer Price Index increased 1.4%, the biggest monthly gain since March 2022, exceeding economists' predictions.
- Rising wholesale prices signal potential increases in consumer inflation and affect the Federal Reserve's preferred personal consumption expenditures price index.
- The Consumer Price Index jumped 3.8% year-over-year in April, the highest in over three years, adding to Americans' affordability challenges ahead of the November elections.
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Correspondent Lee Ji-heon = The U.S. producer price inflation rate in April significantly exceeded expectations due to the fallout from rising energy prices resulting from the war between the U.S. and Iran. The U.S. Department of Labor's Bureau of Labor Statistics reported that the U.S. Producer Price Index (PPI) in April... compared to the previous month
Associated Press News+3 Reposted by 3 other sources
Producer prices shot up 6%, adding to pressure on companies to raise prices for customers
U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, most since December 2022, as the 10-week Iran war pushed up energy prices and put pressure on companies to pass along higher costs to consumers.
·United States
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Total News Sources13
Leaning Left6Leaning Right0Center6Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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