US producer prices surge 11% in April as food prices jump

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead. The Labor Department said Thursday that its producer price index — which measures inflation before it reaches consumers — climbed 0.5% in April from March. That is a slowdown from the previous month, when it jumped 1.6%.