Advertisement

US producer prices surge 11% in April as food prices jump

Inflation causing price hikes across the country.
Inflation causing price hikes across the country.(wpta)
Published: May. 12, 2022 at 9:12 AM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

WASHINGTON (AP) _U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead.

The Labor Department said Thursday that its producer price index ,which measures inflation before it reaches consumers , climbed 0.5% in April from March. That is a slowdown from the previous month, when it jumped 1.6%.

Copyright 2022 WITN. All rights reserved.