April wholesale prices jump 0.6%, led by higher food costs

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WASHINGTON (AP) — Wholesale prices rose a higher-than-expected 0.6% in April, driven by a shar rise in food costs. It was further evidence that inflation pressures are starting to mount as the country re-opens. The increase in the producer price index, which measures inflationary pressures before they reach consumers, was double the 0.3% gain that economists had been forecasting. The increase, reported Thursday by the Labor Department, followed a sizable 1% advance in March. Over the past 12 months, wholesale prices are up 6.2%, the largest advance since the data was first calculated in 2010.

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