Wholesale inflation jumps 6% in April on annual basis, biggest increase in four years
Energy costs drove the biggest monthly gain in producer prices since March 2022, and the increase was far above economists’ forecasts.
- The Labor Department reported Wednesday that the producer price index rose 1.4% in April, the largest monthly gain since March 2022, with wholesale inflation reaching 6% year-over-year.
- A 15.6% increase in gasoline prices accounted for 40% of the rise in business costs, with analysts linking the surge to the 10-week war with Iran pressuring companies to pass costs to consumers.
- Core producer prices, excluding volatile food and energy, rose 1% in April and 5.2% annually, while Whirlpool reported revenue dropped nearly 10% this month amid recession-level industry decline.
- On Tuesday, the Labor Department said the consumer price index jumped 3.8% last month, the largest annual increase in more than three years, making affordability critical for the Nov. 3 election.
- Components including health care and financial services flow into the PCE price index, meaning upstream price pressures influence Federal Reserve policy and its ongoing fight against inflation.
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Shelter and Gasoline Pushed CPI to 3.8%. Producer Prices Are Running at 6%. Here Is What That Pipeline of Inflation Means for Rate Cuts and Your Portfolio
Key PointsThe Producer Price Index rose 6% for April, well ahead of expectations.Over the short term, the PPI isn't necessarily a good predictor of the CPI.The inflation reports are already making a rate hike by the end of the year more likely. 10 stocks we like better than S&P 500 Index › One day after the Consumer Price Index (CPI) rattled the stock market, investors got another taste of bitter medicine from the April Producer Price Index (PPI…
Producer prices shot up 6%, adding pressure on companies to hike prices for struggling customers
WASHINGTON (AP) — U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, the highest point in more than three years, as the Iran war pushes up energy prices and intensifies pressure on companies to pass along their rising costs to consumers. The Labor Department reported Wednesday that its...
U.S. 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 six per cent 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.
Wholesale price inflation in the United States reached peaks last month.
Wholesale inflation surges 6% — biggest increase since 2022: ‘Alarm bells at the Fed’
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.
BLS: Annual Wholesale Inflation Rate Surges To 6%
CNBC reports: Wholesale prices in April posted their highest annual increase in more than 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. This was the largest monthly gain since March 2022. On an…
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