Source: Bureau of Labor Statistics
Producer inflation retreated in April, as lower prices were recorded in most of the sectors during the month. QQQ is down 1.32%, while SPY is down 0.84%.
- Producer inflation clocked in at 11.0%, lower than the 11.5% in March but higher than the 6.5% in April 2021.
- Total final demand increased by 0.5% versus the past month, slower than 1.6% in March and 1.0% in the same month last year.
- The monthly core producer inflation clocked in at 0.6%, down from 0.9% in March and 0.8% in April 2021.
- Energy prices grew at a slower rate of 1.7%, compared with 6.4% in March but higher than the -0.3% in April 2021.
- Total final demand goods increased by 1.3%, while total final demand services were flat.
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