The Bureau of Labor Statistics announced Wednesday that March saw the highest increase in prices for goods and services since records began to be kept.

The producer price index which tracks wholesale prices, rose 11.2% over a previous year. This is the largest increase since November 2010, the longest data series. Monthly, the gauge grew 1.4% above the Dow Jones estimate by 1.1%.

The core PPI, which excludes food, energy, trade and services, rose 0.9% monthly, close to twice the 0.5% estimate, 7% year-over-year, and 0.5% on a monthly level.

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