US PPI at -0.5% mom, 2.4% yoy in April, below expectations

US PPI fell -0.5% mom in April, below expectation of 0.2% mom. PPI services fell -0.7% mom while PPI goods was unchanged. PPI less foods, energy and trade services ticked down by -0.1% mom, the first decline since April 2020. For the 12 months, PPI slowed from 2.7% yoy to 2.4% yoy, below expectation of 2.5% […]

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