Wholesale inflation rose in March to three-year high
Fast-rising oil prices sent US businesses’ costs higher in March, lifting wholesale inflation to 4%, the highest annual rate in three years, according to Bureau of Labor Statistics data released Tuesday.
US wholesale prices surged 4% last month after the war in Iran sent energy prices soaring
U.S. wholesale prices surged last month as the Iran war drove up the cost of energy. The Labor Department reported Tuesday that its producer price index — which measures inflation before it hits consumers — rose 0.