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Producer Prices Rise Slightly

Producer prices inched up in April, leading to the smallest annual increase in producer inflation in over two years, according to Reuters.

The details: “The producer price index for final demand rose 0.2% last month, the Labor Department said on Thursday. Data for March was revised slightly to show the PPI dropping 0.4% instead of 0.5% as previously reported.”

  • In the 12 months through April, the Producer Price Index rose 2.3%, the smallest year-on-year increase since January 2021.
  • Most of April’s gain was owed to an increase in cost of services.

Final demand services, goods: Prices for final demand services rose 0.3% in April, marking the biggest increase in five months, according to the U.S. Bureau of Labor Statistics.

  • Prices for final demand goods increased 0.2% in April after declining 1.0% in March.
  • Final demand energy led the advance, rising 0.8%.
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