Producer Prices rose 0.5% in April or 11% annually, driven by surges in the prices of motor vehicles.
- Economists had projected the PPI to increase by 0.5% for the month and rise 10.7% year-on-year.
- The core index, excluding the volatile food and energy prices, increased 0.6% in April down from 0.9% in March and 6.9% on an annualized basis.
- The slowdown in monthly producer price increases comes after a similar trend in consumer prices in April.
- Prices for truck transportation of freight increased by 4.4% as the prices for automotive fuels and lubricants retailing, transportation of passengers, loan services, and outpatient care also rose.
Meanwhile, prices for health, beauty, and optical goods fell by 1.3%. Prices for portfolio management, hospital inpatient care, furniture, and guestroom rental also fell.
DXY up +0.44%, EURUSD down -0.97%
Source: US Bureau of Labor Statistics