US wholesale prices rise at fastest annual pace since April 2023

By Agence France-Presse

Apr 13, 2024 12:06 am

WASHINGTON, D.C.: US wholesale prices rose at their fastest annual rate in almost a year last month, according to fresh US government data published on Thursday, on a rise in the cost for services.

The increase in the prices paid by producers is likely to weigh on the US Federal Reserve, which is grappling with an uptick in inflation in 2024 that threatens to undermine its largely successful battle against rising prices by hiking interest rates.

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