Producer prices surge 11.2% in March on higher energy costs

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — The surging cost of energy pushed wholesale prices up a record 11.2% last month from a year earlier — another sign that inflationary pressure is widespread in the U.S. economy. The Labor Department said Wednesday that its producer price index — which measures inflation before it reaches consumers — climbed at the fastest year-over-year pace in records going back to 2010 and rose 1.4% from February. Energy prices, which soared after Russia’s Feb. 24 invasion of Ukraine, were up 36.7% from March 2021.