Wholesale inflation jumps 6% in April on annual basis, biggest increase since 2022
... 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 annual basis, the index was up 6%, the biggest increase since December 2022.
Excluding food and energy, the core PPI accelerated 1%, compared with the 0.4% estimate. ...
While much of the inflation move has been attributed to the war and President Donald Trump’s tariffs that were introduced a year ago, the PPI data shows the price pressures were broad-based. ...
I'll say.
Looks to me like producers giving us all the middle finger.
I expect new record high corporate profits.
