However, it was a slowdown from 11.2% recorded in the year ended in March, which had been the biggest jump in prices since the data series began in November 2010. The April number was higher than economists had predicted.
The PPI showed that between March and April, the average prices that America’s producers were paid for their goods and services increased by 0.5%. It was a marked deceleration from the previous month, when prices rose by 1.6%.
Stripping out more volatile prices for food, energy and trade services, the PPI rose 6.9% in the year ended in April. For the month alone, the so-called core prices rose 0.6%, less than in the prior month.
On Wednesday, the latest Consumer Price Index showed a similar dynamic: Prices remained elevated, but the pace of the increase slowed compared with March.
This is a developing story. It will be updated.
Quoted from Various Sources
Published for: The Bloggers Briefing
