U.S. supplier price gains eased a bit in April as energy and food costs eased, but producer-level inflation remains close to historic highs.
The Labor Department on Thursday said the producer price index, which typically reflects supply conditions in the economy, rose 0.5% seasonally adjusted in April from the previous month. That marked a deceleration from the upwardly revised 1.6 percent gain in March, which was pushed up by higher energy prices following Russia’s invasion of Ukraine. April’s rate of increase was the lowest since September 2021, but higher than the average monthly increase of 0.2 percent in the two years before the pandemic.
https://www.wsj.com/articles/producer-price-gains-edged-downward-in-april-but-remain-elevated-11652360313?mod=pls_whats_news_us_business_f Producer Price Gains Edged Downward in April but Remain Elevated