Producer Prices See Biggest Decline Since 2020

Prices paid to U.S. producers of goods and services unexpectedly declined in April, defying predictions that tariffs would reignite inflation. The producer price index for final demand fell 0.5 percent last month, the Labor Department said on Thursday, the largest decline since April of 2020. Economists had forecast a 0.2 percent increase for the month. The prior month’s reading was revised up from a decline of 0.4 percent to flat. Compared with a year ago, the producer price index (PPI) is up 2.4 percent, in line with expectations. In March, the index was up 2.7 percent. The producer price index...