Wholesale inflation surges 11.3% in June, accelerating more than expected

Wholesale prices accelerated again in June as inflation seeps throughout every part of the U.S. economy, squeezing businesses and American households in the form of higher prices for most necessities. 

The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 11.3% in June from the previous year. On a monthly basis, prices grew by 1.1%.

Both of those figures are higher than the 10.7% annual and 0.5% monthly estimates from Refinitiv economists, underscoring just how strong inflationary pressures...