US wholesale price data for April points to easing inflation pressures
Wholesale prices in the United States decelerated last month, the latest sign that inflationary pressures may be easing more than a year after the Federal Reserve unleashed an aggressive campaign of steadily higher interest rates
WASHINGTON AP" target="_self">(AP) — Wholesale prices in the United States decelerated last month, the latest sign that inflationary pressures may be easing more than a year after the Federal Reserve unleashed an aggressive campaign of steadily higher interest rates.
From March to April, the government's producer price index rose 0.2% after falling 0.4% from February to March. Compared with a year earlier, wholesale prices rose just 2.3% last month.
The index that the Labor Department issued Thursday reflects prices charged by manufacturers, farmers and wholesalers. It can provide an early sign of how fast consumer inflation will rise.
Excluding volatile food and energy prices, so-called core wholesale inflation rose 0.2% from March and 3.2% from 12 months earlier. The Fed pays particularly close attention to core prices, which tend to be a better gauge of the economy's underlying inflation pressures.
