U.S. Producer Price Index for Final Demand Rises 1.4% in April

The U.S. Bureau of Labor Statistics reported that the Producer Price Index for final demand increased 1.4 percent in April, seasonally adjusted. On an unadjusted basis, the index rose 6.0 percent for the 12 months ended in April, the largest 12-month increase since December 2022. The rise was driven by a 1.2-percent advance in final demand services, largely due to a 2.7-percent jump in final demand trade services margins, and a 2.0-percent increase in final demand goods, primarily fueled by a 7.8-percent jump in final demand energy prices, with gasoline prices up 15.6%.