US: Wholesale inflation jumps 6% in April on annual basis, biggest increase since 2022

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The producer price index rose a seasonally adjusted 1.4% for the month, much higher than the 0.5% Dow Jones consensus forecast and the upwardly revised 0.7% March increase.
Energy was at the root of the unexpectedly high gain in producer prices, though there was evidence that the price pain is extending beyond the gas pump.
The services index accelerated 1.2%, the biggest gain since March 2022. Two-thirds of the move was attributed to a 2.7% gain in trade services, a sign that tariff costs could be starting to have a larger impact on prices.

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