Washington, DC
CNN
—
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.
On a monthly basis, prices ticked up 0.2%. During the previous month, they fell by 0.4%.
This story is developing and will be updated.
