US producer prices surge 11% in April as food prices jump

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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 April from March.

That is a slowdown from the previous month, when it jumped 1.6%.

Categories: National News