Prices that suppliers charged businesses and other customers jumped in January, pushed up by pandemic-related disruptions and continued strength in consumer demand.
The Labor Department on Tuesday said the producer-price index, which generally reflects supply conditions in the economy, rose a seasonally adjusted 1% in January from the prior month, the sharpest rise since May 2021 and a pickup from December’s revised 0.4% rise. Producer prices rose 9.7% on a 12-month basis, nearly the same as the prior month.
