USA Today reports:
The Labor Department reported Tuesday that wholesale prices rose 1.1% last month. That was the second biggest increase in the past 33 years. Analysts had been expecting a much more moderate 0.4% rise in wholesale prices.
Core inflation, which excludes energy and food, was more moderate last month, rising just 0.2%, down from a worrisome 0.5% rise in February.
For the past 12 months, wholesale prices are up 6.9% and core inflation is up 2.7%, the biggest year-over-year increase in nearly two years.
$4 dollar gas anyone?