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.
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