01-November-2024
Economy News
 
US producer prices in Apr soar more than expected on strong services, goods
15-May-2024

U.S. producer prices increased more than expected in April amid strong gains in the costs of services like portfolio management and hotel accommodation, indicating that inflation remained stubbornly high early in the second quarter. The report from the Labor Department on Tuesday also showed wholesale goods prices rising solidly last month, though the cost of food declined. Traders trimmed their expectations for a September interest rate cut from the Federal Reserve.

News Source:- https://www.business-standard.com/world-news/us-producer-prices-in-apr-soar-more-than-expected-on-strong-services-goods-124051401370_1.html