Wholesale Prices Shoot Up 0.7 Percent.

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Economy

Wholesale Prices Shoot Up 0.7 Percent

Economy

Wholesale prices grew by 0.7 percent in April, the largest increase in a year, the Labor Department reported today. The increase in the Producer Price Index came after wholesale prices rose by 0.5 percent in March. The latest PPI report gave rise to inflation fears. Meanwhile, the Commerce Department reported today that sales at the nation's retailers dropped by 0.5 percent in April. Economists were forecasting a 0.1 percent rise in sales for last month.

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