US wholesale prices rise 6.0% year-on-year in April, highest since 2022

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Wholesale prices in the United States rose sharply in April, pushed by a surge in energy costs related to the Iran war, registering their highest 12-month increase in more than three years. The wholesale prices came a day after US consumer inflation also came in at a three-year high, registering at 3.8 percent year-on-year in April.