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Wholesale prices surge 11.2% in March, highest level on record

Wholesale prices surge 11.2% in March, highest level on record --Economists expected producer inflation to surge by 10.6% in March | 13 April 2022 | Wholesale prices surged again in March as strong consumer demand, pandemic-related supply-chain snarls and the war in Ukraine continued to fuel the highest inflation in decades. The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, surged 11.2% in March from the year-ago period. On a monthly basis, prices grew by 1.4% – an uptick from February, when the gauge increased by 0.9%.