US Producer Prices Drops to Lowest Level Since 2009

The US Department of Labor said today that the US producer price index fell by 1.3% in April, the largest decline since the series was renewed in December 2009, after falling by 0.2% in March.

On an annual basis, the producer price index in the United States decreased by 1.2% during the twelve months to April, the largest decline since November 2015, compared to a 0.7% increase in March. Analysts had expected producer prices to decline by 0.2%.

The core PPI, which excludes food, energy and trade, fell by 0.9% in April, and on an annual basis, the core PPI fell by 0.3% during the twelve months to April compared to the same period last year.