Iran War causes energy costs to soar, US April PPI up 6.0%, highest in over 3 years
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U.S. April Producer Price Index (PPI) rose 6.0% year-on-year, the highest in over three years, driven by soaring energy costs due to the Iran war, according to U.S. Labor Department data. Monthly, PPI increased by 1.4%, significantly exceeding market expectations and marking the largest monthly jump since March 2022. The Consumer Price Index (CPI) also rose by 3.8%, indicating persistent inflationary pressures.