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Producer Price Index - April 2023
The Producer Price Index for final demand advanced 0.2 percent in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices fell 0.4 percent in March and were unchanged in February. (See table A.) On an unadjusted basis, the index for final demand moved up 2.3 percent for the 12 months ended in April. In April, 80 percent of the rise in the index for final demand is attributable to a 0.3-percent increase in prices for final demand services. The index for final demand goods advanced 0.2 percent. Prices for final demand less foods, energy, and trade services rose 0.2 percent in ... (full story)
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Inflation fell to 2.3% in April, producer price index shows in encouraging sign
Inflation fell four tenths of a percentage point to a 2.3% annual rate in April, as measured by the producer price index. On a month-to-month basis, the wholesale price index increased by 0.2%, the Bureau of Economic Analysis reported Thursday morning. The report is encouraging news. It shows inflation not far from the Federal Reserve's 2% target, and well below the rate registered in other inflation gauges. The decrease is an indication that inflationary pressures are abating in the face of the Federal Reserve’s campaign to slow economywide spending by hiking interest rates. Given the trendline over the past ... (full story)
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