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September 01, 2020 10:18am
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Wholesale inflation unexpectedly jumps again to highest level in a year

The Labor Department on Tuesday released the closely watched producer price index, revealing that wholesale inflation ran hotter than expected in April.

Inflation at the wholesale level rose much more than expected in April, the latest sign that price pressures within the economy remain elevated and difficult to tame.

The Labor Department said Tuesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, rose 0.5% in April from the previous month. On an annual basis, prices remain up 2.2% — the highest level since April 2023.

While the monthly gain is notably higher than the 0.2% increase forecast by LSEG economists, the headline figure is in line with expectations.

This is a developing story. Please check back for updates.

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