Business Services Industry
Producer Price Index Jumped 0.7 Percent in April.
Knight Ridder/Tribune Business News, May, 2004
By Robert Gavin, The Boston Globe Knight Ridder/Tribune Business News
May 14--Rapidly rising food and energy costs drove wholesale prices sharply higher in April, forecasting higher prices for consumers in coming months and adding to fears that inflation is accelerating.
The producer price index, the first of two key inflation gauges out this week, jumped 0.7 percent last month, more than double the rate analysts expected. Over the past year, wholesale prices have increased 3.7 percent, compared to a year-over-year rate of 1.4 percent in March, and 2.4 percent in April 2003.
Not all of these increasing producer costs get passed through to consumers, economists said, but clearly some are. In March, the consumer price index, which...
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