Economic Buzz: Producer Prices In US Rise 0.5% In April

13 May 2022 , 09:10 AM

Producer prices in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Labor Department. Producer price index for final demand rose by 0.5 percent in April after surging by an upwardly revised 1.6 percent in March. The annual rate of growth in producer prices slowed to 11.0 percent in April from a record high 11.5 percent in March. Core producer prices in April were up by 6.9 percent compared to a year ago, reflecting a modest slowdown from the 7.1 percent spike seen in March. The report said consumer prices in April were up by 8.3 percent compared to the same month a year ago. While the annual rate of growth slowed from a 40-year high of 8.5 percent in March. The annual rate of growth in core consumer prices, which exclude food and energy prices, also slowed to 6.2 percent in April from 6.5 percent in March. Powered by Commodity Insights