U.S. Wholesale Prices Jumped in April, Hitting 4-Year High
The Producer Price Index rose sharply in April, hitting a four-year high as the effects of the Iran war began rippling through the economy. Food-at-home prices increased 2.9 percent from a year earlier while gasoline costs climbed. Government data released this week showed consumer prices also surged, pointing to broader inflationary pressure.
New ScientistU.S. wholesale prices jumped in April at a pace that hit a four-year high, according to data released this week. The Producer Price Index rose more than economists expected, one day after consumer price figures were also published. Food eaten at home rose 2.9 percent in April compared with the same month a year earlier.
The report noted that high gasoline prices were only one factor. Separately, the U.S. Energy Information Administration reported that refineries processed 16.4 million barrels per day in the week ending May 8, 2026, up 369,000 barrels per day from the prior week and operating at 91.7 percent capacity utilization.
Japan's refinery utilization also rebounded in early May, climbing above 70 percent for the first time since March as strategic oil stocks were released and non-Middle East crude supplies increased.
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