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AP National Business

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

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Published 8:01 AM

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%. 

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