I=8
Wholesale inflation rose 1.4% in April, above the 0.5% forecast, driven by higher energy prices
- Producer price index (PPI) rose 1.4% in April, higher than 0.5% estimate and up from 0.7% in March (revised upwards from 0.5%).
- On a yearly basis, PPI was up 6%, above 4.9% estimate and up from 4.3% in March (revised upwards from 4.0%).
- Core PPI rose 1.0% on the month, higher than 0.3% forecast and compared to 0.2% in March (revised upwards from 0.1%).
- On a yearly basis, core PPI rose 5.2%, above 4.3% estimate and up from 4.0% in March (revised upwards from 3.8%).
- A 15.6% increase in gas prices accounted for 40% of the increase in PPI.
- S&P 500 sheds 0.2% following the report.
