By Tom Burnett CFA
On May 12, 2022, the Bureau of Labor Statistics released the producer price information for the month of April. The Producer Price Index rose 0.5% in April, after increasing 1.6% in March and 1.1% in February. For the 12 months ended in April, the Index rose 11%, following a 12-month increase of 11.5% in March. In April, the Index for Goods rose 1.3% while prices for services were unchanged for the month. Final demand construction costs rose 4.0% in April.
Prices for the Core Index, excluding food and energy, rose 0.6% in April, after increasing 0.9% in March. For the 12 months ending in April, the Core Index rose 6.9%, down from the 7.1% increase for the 12 months ending in March. Energy prices rose 1.7% in April, down from an increase of 6.4% in March. Food prices increased 1.5% in April, following an increase of 2.5% in March.
The next PPI report will be issued on June 14, 2022.