US producer prices rise at slowest pace since January 2021

US producer prices rose at their slowest pace in April since January 2021, according to data released on Thursday by the Bureau of Labor Statistics.

The producer price index for final demand rose 2.3% on the year. Month-on-month, the index was up 0.2%, after falling 0.4% between February and March.

Core wholesale inflation - which excludes volatile food and energy prices - rose 0.2% from March and 3.2% on the year in April.