U.S. producer prices surge 11% in April on higher food costs

PBN Staff

05/12/2022

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. / ASSOCIATED PRESS FILE PHOTO

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…

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