Washington: Producer prices in the US surged by 6% in April, marking the highest level since February 2023, official figures revealed on Wednesday.

According to Anadolu Agency, producer prices had already moved up by 1.4% in March compared to the previous month. The increase in the goods index was primarily driven by a significant rise in energy prices during this period.

Fuel costs saw a substantial escalation of 15.6%, which contributed significantly to the overall advance in the final demand goods index. Conversely, prices for final demand services remained unchanged in March, following a slight increase in February.

Amidst these developments, food prices experienced a modest rise of 0.2%, offering some relief against the backdrop of the overall inflation increase.