Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon.
The produce price index, a measure of what producers receive for the goods they produce, increased 0.5% for the month, higher than the 0.3% Dow Jones estimate. However, the March reading was revised from an initially reported 0.2% gain to a decline of 0.1%.
Stripping out volatile food and energy prices, core PPI also increased 0.5% compared to the 0.2% Dow Jones estimate.
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