Market Updates
Producer Price Index Eased In April, 10th Monthly Slowdown In a Row
Brian Turner
11 May, 2023
New York City
Producer price index in April increased 0.2% from the previous month, the U.S. Bureau of Labor Statistics reported Thursday.
The measure of wholesale inflation declined 0.4% in March and was unchanged in February.
The index for final demand goods increased 0.2% and for services rose 0.3% and contributed to an 80% increase in overall index.
Core index, which excludes food, energy and services, increased 0.2% in April after increasing 0.1% in March. On an annual basis the core index advanced 3.4%.
Over one third of the April advance in the index for final demand services can be traced to a 4.1% rise in prices for portfolio management and 8.4% advance in prices for gasoline was a major factor in the April increase in the index for final demand goods.
On an annual basis, the wholesale price inflation index declined for the tenth month in a row to 2.3% from the high of 11.2% in July.
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