BREAKING: U.S. Producer Price Index Skyrockets, Registers Twice As High As Expected For April
U.S. producer prices surged for the month of April at twice the rate that economic analysts had forecasted, according to newly released numbers by the Bureau of Labor Statistics (BLS).
“The Producer Price Index for final demand rose 0.6% last month,” CNBC reported. “The gauge spiked 6.2% for the 12 months ended in April, marking the largest increase since the agency started tracking the data in 2010.”
The news comes after President Joe Biden has repeatedly received bad economic news over the last week starting with the disastrous jobs report on Friday and soaring inflation rates on Wednesday.
This is a breaking news story, refresh the page for updates.
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