‘Tabasco hot’: Prices for businesses spike, adding to growing inflation concerns

The prices that businesses are paying for goods have risen sharply, according to data released Wednesday, the latest data point showing that knock-on effects from the Iran war are rapidly rippling across the economy.

The prices that businesses are paying for goods have risen sharply, according to data released Wednesday, the latest data point showing that knock-on effects from the Iran war are rapidly rippling across the economy.

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Wholesale business inflation surged to 6% in April on a yearly basis, according to data released by the Bureau of Labor Statistics, up from 4.3% in March.

That data, known as the producer price index, or PPI, also found that business costs rose 1.4% in April on a monthly basis — almost three times more than had been expected.