ROCHESTER, N.Y. — Prices have seen the largest annual increase in more than three years, according to the latest producer price index released by the U.S. Bureau of Labor Statistics.
According to data, the index rose 1.4% for the month. That’s higher than the 0.5% increase experts expected. If you look at the overall picture, the index is up 6% from this time last year. It’s important to note that this is not the highest we have seen in recent years.
The index was up 9% in 2022. Regionally, the Bureau of Labor Statistics says the consumer price index for all urban consumers in the Northeast increased 4.4% since one year ago…