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Wholesale prices increases accelerate, belying Biden claims that inflation would be ‘transitory’

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“Prices at the wholesale level accelerated further in April, part of a broader inflation problem persisting through the U.S. , the Bureau of Labor Statistics reported Thursday. The producer price index, which tracks how much manufacturers get for products at their initial sale,” rose “11% from a year ago,” reports CNBC. “Those numbers came the day after the BLS reported that consumer prices for goods and services in the marketplace rose 8.3% from a year ago … indicative of the worst inflation the U.S. has seen since the early 1980s.”

“Gas and groceries have been responsible for much of the inflation surge, with indexes tracking the two

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