Wholesale inflation jumps 6% in April on annual basis

Wholesale inflation jumps 6% in April on annual basis, biggest increase in four years Wholesale prices in April rose the most in 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.

On an annual basis, the index was up 6%, the biggest gain since December 2022.