Wholesale Prices Rise 0.5% in April to Highest Level in a Year, Exceeding Expectations

May 14, 2024, 01:19 PM

Wholesale prices rose by 0.5% in April, exceeding the expected increase of 0.3%, according to the Dow Jones consensus estimate. This marks the highest level of wholesale inflation in a year. The core monthly Producer Price Index (PPI), which excludes volatile food and energy prices, also saw a 0.5% increase. The rise in wholesale prices highlights ongoing inflationary pressures in the economy. This increase is considerably higher than the revised drop of 0.1% seen the prior month.