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 increased 0.6 percent in April,” BLS reported. “On an unadjusted basis, the final demand index moved up 6.2 percent for the 12 months ended in April, the largest advance since 12-month data were first calculated in November 2010.”