American Businesses See Largest Producer Price Surge Since Tracking Began

Price levels for businesses just saw their largest-ever surge.

According to data released Tuesday by the Department of Labor’s Bureau of Labor Statistics, the Producer Price Index (PPI) — which tracks changes in input prices for businesses and other domestic producers — experienced a 6.6% year-over-year increase. According to the agency, the increases are the largest “since 12-month data were first calculated in November 2010.”