Wholesale inflation rose 11% in April as producer prices keep accelerating

Wholesale inflation rose 11% in April as producer prices keep accelerating

Prices at the wholesale level accelerated further in April, part of a broader inflation problem persisting through the U.S. economy, the Bureau of Labor Statistics reported Thursday.

The producer price index, which tracks how much manufacturers get for their products at their initial sale, rose 0.5% on the month and 11% from a year ago. Economists surveyed by Dow Jones had been looking for a monthly increase of 0.5%.

Excluding food, energy and trade services, core PPI rose 0.6% in April and 6.9% from a year ago.

Both monthly increases were exactly in line with Dow Jones estimates.

Those numbers came the day after the BLS reported that consumer prices for goods and services in the marketplace rose 8.3% from a year ago, down from 8.5% in March but still indicative of the worst inflation the U.S. has seen since the early 1980s.

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Original news source Credit: www.cnbc.com

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