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Wholesale inflation surges 6% — biggest increase since 2022: 'Alarm bells at the Fed'

New York Post·Associated Press·6 months ago
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US 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.

The Labor Department reported Wednesday that its producer price index — which tracks inflation before it hits consumers — shot up 1.4% in April, biggest monthly gain since March 2022.

Energy prices climbed 7.8% from March to April and 22.7% from a year earlier. Gasoline soared 15.6% from March and diesel, the dominant fuel used in shipping, jumped 12.6%.

The producer price index, which tracks inflation before it hits consumers, rose 6% from a year earlier, and the most since December 2022.…

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