Another key inflation gauge cooled further in April | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

Wholesale annual inflation slowed in April, adding to signs that price pressures are easing

The Producer Price Index, a key measure of price changes at the wholesale level, slowed to 2.3% for the 12 months ended in April, the Bureau of Labor Statistics reported Thursday. That was below the annual increase of 2.7% in March and economists’ expectations of a 2.4% increase. It’s also the slowest annual increase since 2021. The year-over-year decline was driven by falling prices for eggs, grains, chickens, diesel and liquified petroleum gas. On a monthly basis, prices ticked up 0.2%.

The Consumer Price Index, which measures price changes across a basket of consumer goods, rose 4.9% in April, down from the 5% rise in March, the BLS reported Wednesday. That was the 10th consecutive month of slowing consumer inflation and the lowest reading since April 2021. Core inflation, which excludes food and energy prices, was unchanged at 5.5% for the 12 months ended in April.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Annual inflation cooled last month to the lowest level since April 2021 | CNN BusinessIt's been a two-year slog of enduring painfully high prices, but the light at the end of the tunnel just got slightly brighter for consumers.
Source: CNN - 🏆 4. / 95 Read more »