US wholesale price data for April points to easing inflation pressures

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) — Wholesale prices in the United States decelerated last month, the latest sign that inflationary pressures may be easing more than a year after the Federal Reserve unleashed an aggressive campaign of steadily higher interest rates. From March to April, the government’s producer price index rose just 0.2% after falling 0.4% from February to March. Compared with a year earlier, wholesale prices rose just 2.3%. The index the Labor Department issued Thursday reflects prices charged by manufacturers, farmers and wholesalers. Excluding volatile food and energy prices, so-called core wholesale inflation rose 0.2% from March and 3.2% from 12 months earlier. The Fed pays particularly close attention to core prices, which tend to be a better gauge of underlying inflation pressures.