Cnn
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American wholesale prices fell in April, according to new data published Thursday.
The producer prices index, a closely viewed measurement of wholesale inflation, showed Thursday that the prices paid to American producers dropped by 0.5% in April compared to the previous month, a much softer reading than economists have expected, and the greatest monthly decrease since April 2020, when Cavid smothered the economy.
On an annual basis, inflation slowed down to 2.4%, compared to 3.4% in March, according to data from the Bureau of Labor Statistics.
Economists expected the monthly prices to increase by 0.2% and slowed 2.4% on an annual basis compared to the initial estimate of 2.7%, according to Factst.
PPI serves as potential ringtone for inflation in retail trade in the coming months.
On Tuesday, the latest data on the consumer price index showed that overall inflation is further cool for goods and services that Americans are flucting. However, the multitude of prices from President Donald Trump should largely make items more expensive during the months to travel higher inflation.
This story develops and will be updated.
