US Producer Prices Top Forecasts, But Details Offer Some Relief
- PPI for final demand climbed 0.5% after downward revision
- Categories that feed into PCE price index were more muted
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US producer prices rose in April by more than projected, though key components that feed into the Federal Reserve’s preferred inflation gauge were more muted.
The producer price index for final demand increased 0.5% from a month earlier, driven largely by services and following a downwardly revised 0.1% drop in March, Bureau of Labor Statistics data showed Tuesday. Compared with a year ago, the PPI rose by the most since April 2023.