New Delhi, May 13 -- US producer prices recorded their sharpest monthly increase in more than four years in April, according to the latest Economic News Release issued by the U.S. Bureau of Labor Statistics (BLS).

The release stated that the Producer Price Index (PPI) for final demand increased 1.4 per cent in April on a seasonally adjusted basis, following gains of 0.7 per cent in March and 0.6 per cent in February. The BLS said the April rise was "the largest advance since rising 1.7 per cent in March 2022."

On a yearly basis, the index for final demand rose 6.0 per cent for the 12 months ended in April, marking "the largest 12-month increase since moving up 6.4 percent in December 2022," the release added.

Producer prices are the ne...