Another key inflation gauge cooled further in April

Washington, DC CNN

In April, the annual rate of inflation was a little lower than in March. This is a sign that prices are beginning to ease.

The Bureau of Labor Statistics announced Thursday that the Producer Price Index (PPI), a key indicator of wholesale price changes, had slowed down to 2.3% over the 12-month period ending in April.

This was lower than the 2.7% annual growth in March, and below what economists expected of a 2.4% rise. This is also the lowest annual growth since 2021.

Prices rose 0.2% on a monthly basis. In the month before, prices fell by 0.4%.