Market Updates
Producer Price Inflation Rebounded in April
Brian Turner
14 May, 2024
Washington, D.C.
Producer price index increased 0.5% in April from the previous month and rose 2.2% from a year ago, the U.S. Bureau of Labor Statistics reported Tuesday.
Nearly three quarter of increase in producer price inflation is linked to the increase in final demand for services.
Goods costs rose 0.4% after falling 0.2% in March, and service prices increased 0.6% from the previous month, following the downwardly revised 0.1% decline in March.
The index for final demand less foods, energy, and trade services moved up 0.4% in April after rising 0.2% in March.
For the 12 months ended in April, prices for final demand less foods, energy, and trade services increased 3.1%, the largest advance since climbing 3.4% for the 12 months ended April 2023.
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