(The Center Square) – Wholesale prices have risen at record levels in the past year, according to newly released federal pricing data.
The Bureau of Labors Statistics released new pricing data Wednesday showing the producer price index, a key marker of inflation, rose 1.4% in March and 11.2% in the last 12 months.
That increase is the highest since BLS began tracking this metric in 2010.
“A 22.7-percent jump in margins for fuels and lubricants retailing was a major factor in the March advance in prices for final demand services,” BLS said. “The indexes for truck transportation of freight; traveler accommodation services; airline passenger services; inpatient care; and hardware, building materials, and supplies retailing also increased. Conversely, prices for securities brokerage, dealing, and investment advice decreased 5.4 percent. The indexes for portfolio management and for automobile retailing (partial) also moved lower.”